New Islamic pension fund in Nigeria to launch before June, says industry body

The new pension Sharia Fund may be launched in the first half of the year, the President, Pension Fund Operators Association of Nigeria, Mr. Wale Odutola, has said.

Odutola told The Nation that work was ongoing on the fund (PenOp), which will be Sharia compliant. He said the Sharia Fund, which will be Fund Six under the Multi-Fund structure introduced by the National Pension Commission (PenCom) is coming after Fund Five, the Micro Pension Scheme.

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