The Firm has participated actively in the progression of the pension industry in Nigeria, in the last five years having been involved in both policy formulation and drafting of, the law. The Principal Partner, Dr 'Timi Austen-Peters advised the Presidency of the Federal Republic of Nigeria on a 6-man drafting team for the elaboration of the Pension Reform Act, 2004. Consequently, the Firm was one of the ports of first call for Pension Fund Operators when it was time for registration with PENCOM (the regulatory body for pensions), and the Firm brought into play its wealth of knowledge of the law and procedure to obtain licences for some of the these operators.
Recently, in conjunction with Pension Operators, the Firm organized a seminar, in commemoration of the official grant of licences to Pension Operators, with the theme "The Journey So Far", where stakeholders highlighted the challenges of the Pension Reform Act 2004 and put forward suggestions for reform. As our profile demonstrates, the Firm has also participated in Capital Market operations generally and advised on the correlation and expectations of the Capital Market to the development of the Pension Industry.
- Provided legal advisory services on the interpretation of the Pension Reform Act 2004 to the National Pension Commission
- Provided legal advisory services to the National Pension Commission on the relationship between Pension Fund Administrators and Pension Fund Custodians and drafted model contracts for custodial services
- Advised the Pension Fund Industry in Nigeria on the setting up of a self-regulatory organization and facilitated the establishment of same and the compliance with all regulatory requirements. Recently concluded the drafting of a proposed Bill for the setting up of an Institute of Pension Professionals
- Advised the National Pension Commission in connection with the its investigation into the activities of a Pension Fund Administrator
- Advised and guided investors in acquiring licences from the National Pension Commission to operate in the Pension Fund Industry