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UBA PENSIONS CUSTODIAN LIMITED
UBA Pensions Custodian Limited (UBA Pensions) is
a wholly owned subsidiary of United Bank for Af-
rica Plc (UBA) and, one of the five licensed Pension
Fund Custodians in Nigeria; it was incorporated in
September 2005 for the purpose of offering pension
fund custodian services in line with the provisions
of the Pension Reform Act 2004. UBA Pensions was
granted its operating license in December 2005, by
the National Pension Commission (PenCom) to of-
fer pension custodian services to licensed Pension
Fund Administrators in Nigeria. The company com-
menced market operations on February 16, 2006
with Assets under Custody in excess of N657billion as
of May 31, 2012.
ACTIVITIES/BUSINESS
The business of UBA Pensions is to provide custody
of pension assets, to hold and deal with such assets
strictly in accordance with directions given by the
Pension Fund Administrators (PFAs) and the Pension
Commission in conformity with Pension Reform Act,
2004 and also ensure that such assets in custody are
kept separate and distinct from its own assets.
SERVICE OFFERINGS
Being a highly regulated institution and a back-of-
fice service provider, our services are only available
to licensed Pension Fund Administrators as outlined
specifically in the Pension Reform Act 2004 as fol-
lows:
• Pension Contributions Collection
• Trades Settlement
• Retirement Benefit Settlement
• Corporate Actions
• Safe keeping and Vault Administration
• Fund Accounting
• Risk Management, Compliance Monitoring and
Reporting
• Investment Performance Management
Leveraging on the widely spread network of branch-
es of UBA Plc, we are able to do pension contri-
butions collection on behalf of our Pension Fund
Administrators whose clients spread all over the
country. UBA Pensions is positioned and determined
to pursue with vigou r its mission of continuously de-
livering best-in-class custodian services and its vision
of being “the leading custodian services provider in
Nigeria”.
CLIENTS PROFILE
With our Vision “to be the leading Pension Custodi-
an Services provider in Nigeria”, the Company had
since 2005, grown from a N0.00 asset under custody
to N657 billion as of May 31, 2012. The assets are
held under custody for 11 Pension Fund Administra-
UBA PENSIONS CUSTODIAN LIMITED
Mrs. Tomi Somefun
, MD/CEO, UBA Pensions Custodian Limited