Nigeria’s Nationwide Pension Fee (PenCom) has raised the allowable funding limits for peculiar shares throughout key Retirement Financial savings Account (RSA) fund classes.
The adjustment was introduced in an addendum launched on Monday, February 9, 2026, to the Revised Regulation on Funding of Pension Fund Belongings initially issued in September 2025.
The transfer is aimed toward enhancing asset allocation effectivity, particularly with the famous absence of qualifying belongings, particularly in different belongings.
PenCom stated that the revision is a focused response to implementation bottlenecks recognized after the 2025 regulatory overhaul.
The Fee revised Part 9 of the regulation, growing fairness publicity caps for a number of RSA fund courses as follows:
The Fee stated the adjustments take instant impact and apply to all licensed Pension Fund Directors (PFAs) and custodians.
In keeping with PenCom, implementation challenges emerged following the 2025 regulatory replace, significantly round new limits for peculiar shares, Federal Authorities of Nigeria (FGN) bonds, and different belongings.
By increasing fairness funding headroom, the regulator goals to supply PFAs with further flexibility to allocate funds extra effectively whereas sustaining danger diversification throughout RSA portfolios.
Funding consultants hailed the transfer as a well-thought-out initiative, stressing it could present further assist to the equities market.
The market operators famous that the event could set off:
In September 2025, PenCom elevated the utmost allowable allocation from Pension Fund Directors (PFAs) to personal fairness funds from 5% to 10% and 5% to fifteen% throughout some funds and launched 12 rigorous qualifying standards for PE funds.
This adjustment comes in opposition to a backdrop of rising pension-fund belongings, which exceeded N26 trillion as of October 2025 as managers diversify to seize increased returns, supporting each capital markets and retirement outcomes.
