Stanbic IBTC Pension Managers, a leading pension fund administrator in Nigeria, has been awarded the coveted title of ‘Most Financially Inclusive Pension Company of the Year’ at the 2024 International Financial Inclusion Conference (IFIC’24). The award ceremony, organised by the Central Bank of Nigeria (CBN), brought together key stakeholders from the financial sector, including regulatory authorities, financial institutions, and development organisations.
The recognition highlights Stanbic IBTC Pension Managers’ commitment to bridging financial accessibility gaps and empowering individuals through inclusive pension management solutions. It also underscores the company’s leadership in driving financial education and promoting retirement planning for all Nigerians, irrespective of socioeconomic status.
Addressing Financial Inclusion Challenges
Financial inclusion remains a pressing issue in Nigeria, with a significant portion of the population unbanked or underbanked. Given the country’s diverse economic landscape and varying levels of access to financial services, initiatives that reduce these disparities are essential for national development.
IFIC’24 provided a platform for industry leaders to share best practices, innovative strategies, and collaborative ideas to enhance financial accessibility. This year’s conference focused on the importance of tailored financial products and services, particularly for the economically disadvantaged.
Stanbic IBTC Pension Managers’ Contributions
Receiving the award, Olumide Oyetan, Chief Executive of Stanbic IBTC Pension Managers, expressed gratitude and reaffirmed the organisation’s commitment to financial inclusion. “IFIC’24 serves as a vital platform for financial sector stakeholders to collaborate and discuss strategies for enhancing financial inclusion, and we are proud to be recognised among key industry players,” Oyetan said.
He further elaborated on Stanbic IBTC’s innovative approach: “We believe that financial inclusion is not merely a goal; it is a fundamental right that empowers individuals, enhances economic stability, and fosters sustainable growth in communities. Our commitment to providing accessible and innovative pension solutions has always been at the forefront of our operations.”
Initiatives Driving Financial Inclusion
Stanbic IBTC Pension Managers has introduced several initiatives aimed at expanding access to pension services:
- Mobile Applications: Simplifying the pension enrollment process and providing real-time access to pension information.
- Financial Literacy Workshops: Educating individuals on the importance of retirement planning and financial management.
- Tailored Pension Products: Designing pension plans specifically for informal sector workers and low-income earners.
- Community Engagement: Collaborating with community organisations and NGOs to raise awareness about retirement planning among underserved populations.
“By prioritising accessibility, we are breaking down barriers and ensuring that more individuals can secure their future through reliable pensions. This recognition motivates us to continue innovating and expanding our outreach,” Oyetan added.
Commitment to Excellence
Stanbic IBTC Pension Managers remains committed to championing inclusive policies and working closely with regulatory bodies to ensure that pension benefits reach every part of Nigeria. The company’s vision aligns with national financial inclusion goals, contributing to the overall economic growth and stability of the country.
As part of its mission, Stanbic IBTC Pension Managers aims to raise the standards of pension management in Nigeria, guaranteeing that every Nigerian can enjoy a secure and dignified retirement.
This latest accolade reinforces the organisation’s position as a leader in financial inclusion and sets a benchmark for other industry players to emulate.
