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Vision To be the Pension Fund Administrator of choice. Mission To be the biggest and most efficient provider of pension fund administration services to individuals and institutions alike while maintaining the highest level of trust and returns to all our stakeholders. Core Values Professionalism, Skills and Courtesy Overview Sigma Vaughn Sterling Pensions Ltd, (Sigma Pensions) was incorporated in August 2004, with the sole objective of undertaking the business of Pension Fund Administration in Nigeria according to the Pension Reform Act (PRA) and is regulated by the National Pension Commission (PenCom). The company has an authorized share capital of 1,000,000,000 ordinary shares of N1.00 each with 900,000,000 of the shares being fully issued and paid-up. It is important to note that this issued share capital is 600% of the amount required by the Act, this because the shareholders of Sigma have ensured that there is more than adequate capital available to meet the company`s needs. The shares of the company are held by two foremost stockbroking firms, namely Messrs Sigma Securities Ltd. and Heartbeat Investment Ltd. who have operated in the Nigerian capital and money markets for several years. Other investors include 21 distinguished Nigerian individual professionals among which are the following;
Following the approval-in-principle granted to the company on the 8th of July, 2005 by the Pension Commission and the fulfillment of all pre-licensing requirements, Sigma Pensions was granted full license to operate as a Pension Fund Administrator (PFA) on the 7th of December, 2005. Technical Partnerships Sigma Pensions has a Technical Partnership Agreement with a leading South African pension administrator and advisor, Messrs Vaughn Sterling Pensions (Pty) Ltd (VSP). The Agreement is for the provision of training, IT Solutions, foreign investment advice, and overall company administration. The Agreement is for an initial period of three years, with ample renewal provisions. VSP is represented on the Board of Sigma Pensions in an executive capacity by Rick Veringa. He is the Chief Operating Officer (COO) as well as the chairman risk committee, and member investment strategy, audit and marketing committees of the Board. VSP have assisted Sigma with the installation of appropriate hardware and software capabilities, and have also designed and implemented the risk management architecture and investment procedures. This is on the basis of BOTT, being an undertaking to build, operate, train and transfer. Vaughn Sterling Pension (Pty) Ltd (VSP) is registered with the South African Financial Services Board as a Pension Fund Administrator, and may accordingly conduct any related pension fund business within the Republic of South Africa, and elsewhere. VSP has technical agreement with seven (7) leading South-African Pension Fund Managers among which are:
VSP also enjoys registration with the Institute of Retirement Funds in South Africa, and is recognized by the Institute of Principal Officers via their Chief Executive Officer, Rick Veringa. They are also in partnership with The Traders Edge, a leading Options trader in South-Africa and New York. By extension Sigma Pensions can tap from the vast intellectual resources and expertise of these fund managers. The shareholding of VSP is 26% held by Rick Veringa, and 74% by Vaughn Sterling and Associates (Pty) Limited. As a result of this shareholding, VSP are also able to enjoy the registration of VSA as a financial services provider, and accordingly also conduct this business. VSP specializes in the strategic management of pension funds. This is achieved by undertaking a detailed risk assessment of any particular Fund, and developing a detailed investment strategy that compliments that risk profile whilst also achieving the strategic objectives of the Board of Trustees. Specific mandates are negotiated with investment managers, with their performance being monitored on a quarterly and YTD basis. Extensive training of trustees is also undertaken and Rick Veringa has extensive experience with the management of pension funds (being a Trustee and/or Chairman of Pension Funds for more than 27 years) as well as significant experience with the investment specifics and overall investment management of pension funds. This includes both defined benefit as well as contributory provident funds. Also available to VSP are Mr. John Stanbury and Mr. Johan van Niekerk. Mr. Stanbury is the current chairman of the South African Board of Standards and is an internationally acclaimed expert in funds and portfolio management. Niekerk has more than 22 years experience as Principal Officer to both Pension as well as Provident Funds. This is a seasoned veteran as regards payroll management for pensioners, and specifically administrative matters (e.g. spouses, dependants, conflicts between the law and testamentary or nomination specifics, etc) Board of Directors The Board of Directors of Sigma Pensions is comprised of 7 highly accomplished and well respected professionals and administrators, chaired by Alhaji Rasaki Oladejo, the distinguished former Deputy Director-General of the Nigerian Stock Exchange. Other members are: Alhaji Rasaki Oladejo (BSc, MA, FCS) - Chairman, Board of Directors Adamu Muazu Modibbo (LL.B, BL, ACS, ACIP) - (MD/CEO) Rick Veringa (ACIS, ACMA) - Chief Operating Officer (COO) Cletus Imasuen (HND, MBA, FCS) Mohammed Adamu Jalingo (BSc, MBA) Umar Hamidu Modibbo (BSc, ACS) Titilayo Tairat Adebiyi (HND,MBA) Our Zonal offices (Addresses): Enugu: UBA Main Branch, Station Road, 53 Okpara Avenue. Tel: 08020520528(Rufina) Ibadan: Divine Favour Plaza, Adekunle Fajuyi Road, Adamasingba. Tel: 08020520578(Potts-Johnson) Jos: 14 Yakubu Gowon Way, behind NTC Gardens. Tel: 08020520527(Pindar) Kaduna: No 2 Murtala Mohammed Square, Independence Way. Tel: 062-213490, 08025366170(Ismaila) Kano: No. 32, Sabo Bakin Zuwo Road, Nassarawa (State Road). Tel: 064-962848, 08020520526(Kaya) Lagos: No. 1, Davies Street, UNTL House (3rd Floor), Marina. Tel: 01-4621111, 4622127, 08025366173(Mathew) Port-Harcourt: UBA House, 25A Trans Amadi Layout. Tel: 084-463421, 08025366171(Elliot) Yola: 10 Galadima Aminu Way, Universal Plaza (1st Floor) Jimeta. Tel: 08020520525(Umar) |
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