Nigeria's pension regulator has bumped up minimum capital for fund administrators to N20 billion and custodians to N25 billion, a beefy revision aimed at fortifying the sector's financial muscle amid surging assets and tech overhauls, giving operators until December 2026 to comply.

The National Pension Commission, in a circular signed by Surveillance Director Saleem Abdulrahman, tied the thresholds to assets under management for PFAs and custody for PFCs, per the 2014 Pension Reform Act and global standards.

For PFAs handling N500 billion or more in AUM, it's N20 billion plus one percent on the excess; below that, a flat N20 billion. Special outfits like NPF Pensions hit N30 billion, while new licenses start at N20 billion across the board.

PFCs face N25 billion plus 0.1 percent of assets under custody, up from 2004's N2 billion—a leap reflecting operational complexities and cybersecurity needs.

Biennial audits kick in post-deadline, with 90-day fixes for shortfalls. PenCom framed the tweaks as essential for efficiency and service in a market where pension assets have ballooned, urging operators to adapt swiftly.