Stanbic IBTC Leads with 143,248 New Pension Accounts

In the first quarter of 2026, Nigeria's pension industry registered 143,248 new Retirement Savings Accounts (RSAs), with Stanbic IBTC Pension Managers leading the way by registering 25,024 new accounts, which accounted for 17.47 percent of all new registrations. AccessARM Pension Managers followed with 15,234 new accounts, while FCMB Pensions recorded 14,542.

This growth increased the total membership of the formal Contributory Pension Scheme to 11.18 million by the end of March 2026, up from 11.04 million at the end of 2025. The pace of new registrations accelerated compared to the 114,864 accounts opened in the fourth quarter of 2025.

The five largest pension fund administrators (PFAs) accounted for 54.41 percent of new registrations, a decrease from 62.11 percent in the previous quarter, indicating a mild easing in concentration. TangerineAPT emerged as a significant player, securing 13,827 new registrations.

Notably, 39.97 percent of new accounts belonged to individuals below 30, and 35.34 percent were aged 30 to 39, highlighting a young contributor base.