TeamApt Partners with PenCom and Awabah for Micropensions

TeamApt Ltd has announced a partnership with the National Pension Commission (PenCom) and Awabah to enhance micropensions aimed at fostering economic growth in Nigeria. This collaboration will enable Awabah to become the first licensed accredited pension agent, transforming pension access for millions of Nigerians, particularly in the informal sector.

Omolola Oloworaran, the Director General of PenCom, highlighted that while Nigeria's pension assets have grown to ₦27 trillion, a significant portion of the workforce remains without savings. The partnership will leverage Moniepoint Inc's infrastructure to facilitate seamless pension onboarding through point-of-sale terminals across Nigeria.

Awabah's direct debit service will allow workers to register for personal pensions and automate contributions, simplifying the process. Tunji Andrew, CEO of Awabah, emphasized the goal of ensuring no African worker faces poverty in retirement.

Denni Ajali, CEO of TeamApt, acknowledged PenCom's leadership in expanding pension coverage and the importance of this partnership in achieving sustainable financial change.