The renovation has revitalised both the hospital’s external and internal spaces; transforming it into a safer, more comfortable and welcoming environment for patients, healthcare workers, and visitors.

The hospital’s outdoor areas have been landscaped with greenery, while a covered canopy has been installed to create a more befitting sit-out space for patients and staff.

With the upgrade, a 20-meter perimeter fence now facilitates a more secure environment; while a newly installed borehole ensures reliable access to water. In addition to improving the facility’s functionality, these improvements also contribute to a more serene and therapeutic environment.

Inside the hospital, the central and extension wards have undergone extensive refurbishment.

Floors have been polished; walls screeded and freshly painted; and furniture upgraded to include new ward beds, side drawers, window treatments, nurses’ desks, and televisions.

Damaged items including ceiling fans, doors, and lighting fixtures, have been replaced; while fumigation exercise was carried out to ensure a hygienic and safe environment.

The toilet block, comprising six toilets, has also been thoroughly modernised with new plumbing, sanitary ware, electrical installations and tiling. These interventions combine to create a facility that meets higher standards of patient care, comfort, and safety.

Commenting on the renovation, Olumide Oyetan, chief executive, Stanbic IBTC Pension Managers, said,

“Access to quality healthcare and education are cornerstones of societal progress. This renovation reflects our dedication to improving mental health infrastructure and providing a supportive environment for patients and staff at the Federal Neuropsychiatric Hospital in Enugu. In 2024, we undertook a similar initiative at the Yaba Psychiatric Hospital in Lagos. These projects together demonstrate our commitment to enhancing both health and education across Nigeria; ensuring our interventions have a lasting and meaningful impact.”

This project highlights Stanbic IBTC Pension Managers’ consistent commitment to corporate social responsibility; demonstrating how sustained investments in mental health infrastructure can address critical needs and improve community outcomes.

By strategically selecting facilities for renovation and carefully executing comprehensive improvements, the company continues to set a benchmark for socially responsible corporate interventions in Nigeria.

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Now, thanks to new regulatory reforms by the National Pension Commission (PenCom), and with Stanbic IBTC Pension Managers Limited leading the charge, that answer is finally yes.

Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings PLC, has reaffirmed its commitment to flexibility, inclusion, and global access with the introduction of two forward-looking pension options, the Personal Pension Plan (PPP) and Foreign Currency (FCY) Pension Contributions.

These reforms are designed to reflect the changing nature of work and income for Nigerians, whether they’re self-employed, freelancers, or professionals earning in foreign currency.

Retirement Savings, On Your Own Terms

The Personal Pension Plan (PPP), previously known as the Micro Pension Plan, brings the power of long-term saving to self-employed individuals and informal sector workers who often fall outside the traditional pension system.

With the PPP, participants can save as they earn, make partial withdrawals after three months, and choose from flexible investment options that match their personal goals. The contributions remain tax-free after five years, and savers can select either conservative or growth funds, depending on their risk appetite.

Even salaried employees can participate by making additional voluntary contributions, giving them more control over their future.

“These enhancements reflect the evolution of Nigeria’s workforce and the increasing global mobility of Nigerians,” said Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers. “Whether self-employed, salaried, or earning in foreign currency, we want Nigerians to take full advantage of these opportunities through expert guidance, transparency, and digital convenience.”

Pensions That Cross Borders

The new Foreign Currency (FCY) Pension Contributions framework opens another frontier. Nigerians earning in U.S. dollars, whether they live in Nigeria or the diaspora, can now save and invest directly in foreign currency.

This means contributors can protect their savings from currency depreciation while gaining access to global investment instruments such as Eurobonds, Exchange-Traded Funds (ETFs), and Global Depository Notes (GDNs).

Withdrawals can be made from the contingent portion after six months, while long-term balances are preserved for retirement. Upon maturity, benefits can be paid in U.S. dollars or converted to Naira, depending on the saver’s preference.

Building Trust, One Saver at a Time

For Stanbic IBTC Pension Managers, the reforms are more than policy shifts, they’re part of a broader vision to make retirement planning accessible to every Nigerian, regardless of where they live or how they earn.

“Our focus is on promoting financial inclusion, trust, and lifelong retirement planning,” Oyetan said. “We want every Nigerian, from the market woman in Enugu to the engineer in Dubai, to feel they have a secure and flexible path to retirement.”

With over two decades of leadership in the pension industry, Stanbic IBTC Pension Managers continues to align its services with PenCom’s vision for a more inclusive, technology-driven, and globally competitive pension system.

As work patterns evolve and Nigerians increasingly become global citizens, Stanbic IBTC’s message remains simple: Retirement planning should move at the speed of life, wherever that life takes you.

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Organised by Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings, the event lived up to its promise of being bigger and better, with a record-breaking prize pool of N50 million distributed among the winners.

The grand finale, held at Livespot Entertarium, Lekki, Lagos, featured extraordinary performances across various artistic fields, including music, dance, fashion, and technology.

The event drew an enthusiastic live audience and millions of viewers worldwide through live-streaming platforms.

Esther Okonta emerged as the overall winner in the Fashion category; Grace James in the Tech category; Caleb Edet Tremor in the Music category and Benedict Emmanuel in the Dance category.

They have each clinched the top prize of ₦7.5 million for their respective categories. These talented individuals secured substantial financial rewards and gained invaluable industry exposure and mentorship opportunities.

Olumide Oyetan, chief executive, Stanbic IBTC Pension Managers, expressed his delight at the event’s success.

“FUZE 3.0 has exceeded our expectations in every way. The talent displayed by our contestants are extraordinary, reinforcing our belief in the immense potential of Nigerian youths. This platform has again proven its worth in nurturing and showcasing our nation’s creative prowess,” said Oyetan.

The talent show competition began with over 6,000 submissions and witnessed unprecedented participation levels with four (4) emerging finalists across Port Harcourt, Kaduna, and Benin.

The rigorous selection process, conducted through the Stanbic IBTC Events App and website, ensured that 28 exceptional talents made it to the bootcamp and only the most exceptional talents made it to the finale.

FUZE Festival 3.0, which marked the culmination of the talent hunt, was a celebration of creativity and innovation.

Industry leaders, celebrities, and dignitaries graced the event, further elevating its status as a premier platform for emerging talents.

FUZE Festival 3.0 witnessed over 10,000 participants surpassing the previous year’s 8,000 participants.

Stanbic IBTC Pension Managers has reaffirmed its commitment to supporting young talents. Plans are already underway for the next edition of the FUZE Talent Show.

The company encourages aspiring contestants to stay tuned for announcements regarding FUZE 4.0 in 2025.

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The Pension Managers were reacting to a video circulating on social media in which a client at one of the Experience Centres appeared distressed.

According to the Pension Manager, they have since reached out to the client and successfully resolved the concern.

“We are aware of a video currently circulating online showing a client at one of our Experience Centres who appeared distressed. We have since communicated with the client and successfully resolved the concern and processed his benefits within the established timeline.

“We would like to reassure our clients of our unwavering commitment to our vision statement:

‘To secure the future of pension contributors through innovative solutions that empower them to retire well.”

“Our dedication to providing top-tier pension fund administration for both private and public sector employees is evident through our focus on timely payments and effective investment strategies. Currently, we disburse about N7 billion monthly to almost 80,000 retirees and have paid over N1.3 trillion to retirees since the inception of the Contributory Pension Scheme. With shareholders’ funds exceeding N60 billion, Stanbic IBTC Pension Managers is far above the regulatory minimum of N5 billion and well positioned to support our clients in achieving a secure retirement”, a statement by Stanbic IBTC Pension Manager reads.

Also commenting on the matter, Olumide Oyetan, chief executive of Stanbic IBTC Pension Managers, noted “Our priority is prompt payment, as it ensures our clients’ financial security in retirement. With a network of 40 branches nationwide, we guarantee accessibility to our services and support at the convenience of our clients.”

“We deeply appreciate the feedback from our clients and are constantly refining our services to better meet their needs. Our focus on integrity and transparency reinforces our reputation as reliable partners in retirement planning, allowing our clients to focus on enjoying their retirement without financial concerns. Furthermore, Stanbic IBTC Pension Managers offers value-added services such as personalized financial planning advice and retirement planning tools. Our digital platforms, including mobile apps and online portals, enable clients to monitor their accounts and track their funds’ growth conveniently, empowering them to make informed financial decisions.” Olumide added.

Stanbic IBTC Pension Managers also emphasizes effective communication, utilizing multiple channels—including a 24/7 multilingual call center—to ensure clients can easily reach out for support and information. This commitment to open communication reflects its understanding of keeping clients informed and engaged”.

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The initiative, part of the company’s corporate social investment (CSI) programme, aims to enhance patients’ living conditions at the renowned psychiatric facility.

The management of Stanbic IBTC Pension Managers announced the completion of the project during a hand-over event held in Lagos on Wednesday, 13 March 2024, at the premises of Yaba Psychiatric Hospital.

The comprehensive renovation project totalling 107,857,474.75 million Naira included the installation of hospital beds, air conditioners, fans, refurbished kitchens with refrigerators and cooker units; toilet seats with sinks and soap dispenser units; bathroom stalls with showers and water heaters; load cables, refurbished nurses’ stations with swivel staff chairs, tables, cabinet racks; air conditioners, sinks with soap dispenser units; water tanks with a pumping machine unit, and bedside lockers for hundreds of patients who visit these wards annually. Two (2) 40-inch LED LG TV were also provided and installed to entertain patients during their rest periods.

During the hand-over ceremony, Olumide Oyetan, chief executive of Stanbic IBTC Pension Managers, reiterated the company’s commitment to community development and improving the lives of others.

He said,

“One of our three CSI pillars is health because as an organisation that is committed to the long-term sustainability of Nigerians, we believe that investments in health must be frequent and sustained.

“Understanding the pain of persons dealing with mental health challenges in our country, we embraced this opportunity to support the hospital management in creating an enabling environment that will enhance care and speed up recovery of the patients experiencing this challenge.”

Nike Bajomo, executive director of Business Development at Stanbic IBTC Pension Managers, expressed gratitude to all partners and stakeholders who contributed to the project’s success.

Nike stated:

“Today is very emotional for us as it marks the realisation of this dream that we pictured several months ago when we first embarked on this project. Our sincere thanks goes to each and everyone who supported us on this journey, including our management team who bought into the vision; the hospital management who guided the execution; the team who did the groundwork; and of course all our partners here today to share this moment. We look forward to the thousands who will be cared for in this hospital in the coming years, and commit to doing more to support the wellness of Nigerians, because Nigeria is our home and we drive her growth.”

Hospital staff expressed excitement about the renovated wards and their potential to impact patient care and recovery positively.

The handover ceremony witnessed the presence of representatives from Stanbic IBTC Pension Managers, the management of Yaba Psychiatric Hospital, esteemed guests, and hospital patients.

Stanbic IBTC Pension Managers’ remains committed to helping Nigerians enjoy the extraordinary life, while young and at retirement, and this is just one of the ways that the company enables this vision.

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The top three in each category – music, dance, fashion, and technology, had the unique opportunity to showcase their unique skills and perform live at the acclaimed Livespot Entertarium in Lekki, Lagos; and were presented with cash prizes of N5 million, N2 million and N1 million respectively, for the first, second and third place winners of each category. Praise Eguajoe (Dance category), Mariam Bello (Fashion category), Chioma Ukpabi-Steve (Tech category); and Atonopriya Cotterell (Music category) emerged as the first-place winners, and each walked away with N5 million cash prize.

The FUZE Talent Show, which received an overwhelming response with over 4,000 entries from applicants, provided a platform to showcase raw talent from participants across Nigeria.

The journey to the finals was rigorous, with 28 contestants taken through a two-week boot camp, several levels of competition, and weekly elimination shows, after which the top 12 contestants secured their spots in the thrilling finals.

The event was not just a talent showcase but an unforgettable experience filled with excitement and fun. Over 10,000 attendees enjoyed a full-day festival featuring a marketplace and an unforgettable concert where A-List Nigerian artistes – Adekunle Gold, Pheelz, Fave and NSG, thrilled the youthful crowd with hit after hit. Attendees enjoyed all of this for free, keeping with the true spirit of the yuletide season – the season for giving!

Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, expressed pride and passion as he remarked, “It was truly an extraordinary showcase of Nigeria’s diverse and immense talent pool.

At Stanbic IBTC Pension Managers, we do not only focus on professionally managing your retirement funds but equip you with the knowledge to enable you make the right decisions that enable you to optimize your retirement benefits, no matter your age.

This is why we have put together this important platform to ensure that young Nigerians who have talents in diverse areas, get the encouragement that they need to truly achieve the extraordinary. Here, we believe that your best days are always ahead; so we aim to help you identify and seize the opportunities to harness them.”

Nike Bajomo, Executive Director, Business Development, Stanbic IBTC Pension Managers, congratulated the winners and thanked everyone involved in putting up such a great show and for making the event a resounding success.

She highlighted the significance of the FUZE Festival, stating that, “beyond the merriment and fun-filled experience, the event had a profound impact in empowering Nigerians to fulfil their dreams and end 2023 on a high note.”

The panel of judges comprising Ric Hassani, singer and song-writer; Banke Kuku, fashion curator; Bunmi Olunloyo, dance choreographer; and Stanley Jacob, Chief Executive of Zest Payment (formerly known as Stanbic IBTC Financial Services), played a crucial role in evaluating the performances across the four categories and in supporting the contestants to ending the show on a high note.

Stanbic IBTC Pension Managers has, once again, reaffirmed its commitment to empowering young Nigerians and making the extraordinary possible and also highlights the organisation’s strong support for the creative industry in Nigeria majorly powered by the youths.

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The re-opening of the branch, located at Plot 1049 Pated Marble, off Ahmadu Bello Way, Area 11, Garki, Abuja, is to provide better accessibility and improved service experience to customers.

Speaking about the re-opening, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, stated that the Abuja Experience Centre has been revamped to offer increased comfort, more space and a modern ambiance to customers who visit the branch.

“Embarking on this revamp project was critical to ensuring that we are intentional about offering our customers better service. As a leading Pension Fund Administrator, we have a responsibility to ensure that whilst our digital platforms are optimal, our physical locations should also be well equipped to serve the needs of our visiting clients,” Olumide said.

Olumide further noted,

“our clients can continue to expect first-class customer experience at this branch and other experience centres across the country. Our digital channels are also always available to customers 24/7 to access and initiate a variety of transactions on their pension accounts from the comfort of their homes and offices.”

In her remarks, Nike Bajomo, Executive Director, Business Development, Stanbic IBTC Pension Managers, noted that the re-opening of the branch will enhance the enlightenment of more individuals on the contributory pension scheme through its customer-tailored activities, which will lead to increased regional sensitisation.

She highlighted that the growing number of interests by contributors to access a portion of their pension fund as equity contributions for residential mortgage applications coming through, and the need for more customers to complete pre-retirement verification exercises, among other needs, led to the PFA’s decision to revamp its branches for maximum comfort and efficiency.

“We made a commitment to our clients to always put their needs at the forefront of our decision-making. Thus, when they need to visit us, we want to ensure that we are easily accessible, and our space is well equipped to welcome and serve them excellently for the duration they spend with us before returning to their busy lives. We will continue to innovate and provide top-quality experiences and pension solutions to meet our clients’ needs at all touch points,” Nike assured.

Nike thanked all stakeholders for their continued support and assured that the organisation will not relent in providing exceptional offerings with its extensive experience in investment management and pension fund administration.

Stanbic IBTC Pension Managers is a foremost pension fund administrator in Nigeria, with over two (2) million customers nationwide.

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This occurred following the implementation of an approved guideline on accessing Retirement Savings Account (RSA) balance towards payment of equity contribution for residential mortgage by RSA holders released by the National Pension Commission (PenCom) on 23 September 2022.

Stanbic IBTC Pension Managers is enabling its customers to access up to 25 percent of their Retirement Savings Account (RSA) balance as equity contribution for residential mortgages, thereby living up to one of its core values of serving their clients. With this milestone, the PFA is actively closing the affordability gap in Nigeria’s mortgage sub-sector and improving the standards of living of its RSA holders.

Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers said “as an organization, one of our main objectives is to ensure that our clients retire well, which aligns with enabling our customers to become homeowners. We leverage customer data and insights which help us to be proactive in meeting their needs. Our team works diligently to ensure that our clients can access a portion of their pension savings as equity contribution towards residential mortgage applications, if they meet the required conditions as prescribed by PenCom.”

This achievement comes on the heels of steady growth in assets under management (AUM) and a customer base of over two (2) million customers as at end of June 2023, thereby positioning the organization as a leading PFA delivering long term competitive returns across its various funds. The recent addition of Experience Centres across major cities is also aiding its commitment to the excellent service delivery to clients. This is in addition to various upgrades to its digital touchpoints such as its mobile app and multilingual call centre.

Oyetan further commented that customers who opt for additional voluntary contributions towards retirement through the Voluntary Contribution option are able to access even more funds to meet their objective when securing their dream homes.

Customers can visit the Pension module of the Stanbic IBTC Mobile App or the Stanbic IBTC Pension Managers website to learn more about the application requirements or get other information on the application process.

The company’s 24/7 multi-lingual call centre, thirty-nine (39) locations nationwide and Stanbic IBTC Bank branches are also available to customers who want to speak to a staff for further guidance.

Stanbic IBTC Pension Managers believes in empowering its customers with the knowledge and tools they need to achieve their retirement goals.

One way the organization enables its customers to achieve their objective of financing their dream home is by supporting the access of up to 25 percent of their RSA contributions as equity to purchase a home under a mortgage scheme.

To enhance customer experience, the organization further provides client-focused engagements like financial fitness sessions, pre-retirement seminars and dedicated employer engagements in various cities across the country.

These initiatives offer our customers the avenue to meet representatives of the organization, get industry and regulatory updates, learn about employee management and pre-retirement financial planning.

These opportunities are geared towards helping clients build long-term sustainable wealth and retire comfortably.

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During the highly successful 2023 edition of the Annual Employers Forum, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers emphasized this dedication towards helping their customers retire well.

The forum, a brainchild of Stanbic IBTC Pension Managers successfully promoted a deeper understanding of the pension industry while fostering meaningful collaborations with employers from both the private and public sectors.

Under the theme “Pension Mastery: Supporting employees in their journey to #Retirewell,” this virtual event served as a dynamic platform for representatives from various organizations to gain invaluable insights into the pension industry. It provided an opportunity to exchange ideas, explore collaborative strategies and strengthen partnerships, all to ensure that employees achieve financial security and retire well.

During his speech, Olumide expressed his appreciation to the employers and stakeholders present for their loyalty and unwavering trust in the organization’s credibility.

He reassured attendees that Stanbic IBTC Pension Managers would continue to provide expert guidance, innovative solutions, and exceptional customer service to ensure employees’ seamless retirement planning journey.

He stated,

“This initiative is important to us because it fosters crucial conversations and meaningful networking opportunities. Participants can connect, share best practices and establish relationships that will contribute to the long-term success of our retirement planning initiatives. Together, we can steer the wheel of success and work towards securing a better future for retirees.”

The event featured informative presentations, engaging panel discussions, and interactive sessions led by industry experts.

Attendees had the opportunity to deepen their knowledge of retirement planning strategies, pension management, investment options, and the evolving regulatory landscape.

During the forum, Stanbic IBTC Pension Managers reiterated its commitment to strengthening existing partnerships with various organizations.

As a testament to its exceptional leadership in pension management in Nigeria, Stanbic IBTC Pension Managers encouraged dissatisfied contributors to take advantage of the ongoing Transfer Window, enabling them to benefit from the reliable pension solutions offered by the organization.

This event was a significant step forward in strengthening relationships, fostering collaboration, and equipping employers from the private and public sectors with the knowledge and tools necessary to better serve their employees’ retirement needs.

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Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC, has received an Initial Management Quality Rating of MQ2(NG)(mq) with a Stable Outlook from Global Credit Ratings (GCR).

The rating demonstrated the company’s commitment to excellence in all aspects of its operations.

GCR, the rating agency, gained expertise in assessing the creditworthiness of financial institutions, corporates, and government entities, and had established itself as a leading rating agency in Africa.

GCR adopted a Management Quality (MQ) rating system that ranked from the highest rating of ‘MQ1’ to the lowest rating of ‘MQ5’.

These ratings served as indicators of an entity’s organizational structure, risk management capabilities, and operational controls.

They also hinted at markets of the overall quality, management characteristics, and operating practices of organizations.

The MQ2 rating assigned to Stanbic IBTC Pension Managers was an indicator of the institution’s strong management team with robust organizational structures, adequate controls, and sound risk management practices. It also accentuated the company’s clear strategy and solid financial position.

In a statement, Dr. Demola Sogunle, Chairman, Board of Directors of Stanbic IBTC Pension Managers, expressed delight in the rating. He stated that it was evidence of the company’s dedication to achieving excellence in all areas of its operations.

“We are very delighted to have received this rating from GCR, which recognizes our concrete efforts to maintain the highest standards of corporate governance, risk management, and financial performance,” Demola said.

Demola noted that the rating would boost confidence among Stanbic IBTC Pension Managers’ clients and stakeholders and would affirm the company’s dynamic capability to manage risks and deliver on its commitments.

Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, attributed the rating and success of the organization to its commitment to better serve customers without compromising operational excellence.

He said, “We are a member of the Standard Bank Group, Africa’s largest banking group by assets, totaling US$170 billion, as of 31 December 2022. This feat has enabled us to leverage the Group’s resources for our portfolio management functions. Our sister company, Stanbic IBTC Bank, is also the only AAA-rated Bank in Nigeria today, lending further credence to the Group’s strength and stamina, especially in its leadership and governance structures”.

“We deliver pension fund administration and management services to over 1.9 million private and public sector Retirement Savings Accounts (RSA) holders under the Contributory Pension Scheme) through our extensive network of 29 branches and ten service centers nationwide.”

Olumide said the organization also managed defined benefit plans for large corporates and provided value-added services, including retirement planning advice and personal financial planning.

He described Stanbic IBTC Pension Managers as an organization equipped with a stable and experienced management team with sound management experience to keep the organization ahead of the pack in its operations and practices.

Our portfolio management is sound, and our investment style is value-based with a long-term bias. We implement a top-down approach in securities selection, which is monitored monthly by the executive committee. We also offer our clients transparency and ease of account access through channels such as our secure web portal, 24/7 multilingual contact center, telephone, email, SMS, and our growing loop of client experience centers”.

– Olumide said

The PFA’s Chief Executive noted that the company maintained an adequate operational risk management framework.

He said, “We manage cyber, and data privacy risks using internal controls reviewed annually by independent third parties to reassure all our stakeholders of our commitment to doing business correctly and safely”.

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