Nigeria’s Contribution Pension Scheme

The pension industry in Nigeria is one of the fastest-growing financial sectors, with 10 million accounts under the Contributory Pension Scheme and pension assets under management worth N16.76 trillion as of the end of the third quarter of 2023.

The Organized Private Sector (OPS) under the Nigerian Social Insurance Trust Fund (NSITF) scheme is a program designed to provide social security protection to employees in the private sector in Nigeria.

The NSITF is a social insurance scheme established by the Nigerian government to provide compensation to employees who suffer from occupational accidents, injuries, or diseases arising from their employment. The OPS is made up of employers and employees in the private sector who contribute to the NSITF scheme.