PROGRESS TRUST CPFA Limited
About Us
Background
Progress Trust Ltd was incorporated on the 22nd of June 1954 to operate as Trustee and Fund Manager to the Nigerian Breweries Plc. Pension Fund. Following the Pension Reform of 2004, the name was changed to Progress Trust CPFA Limited and it was duly licensed by the National Pension Commission in December 2006 as a Closed Pension Fund Administrator. Progress Trust CPFA Limited is a wholly owned subsidiary of Nigerian Breweries Plc.
TRACK RECORD AND EXPERTISE
We have a track record of over 70 years of excellent performance in the Pension Industry. Our scheme is one of the pioneer pension schemes in the country and we have continually met our benefit obligations, maximized returns and accumulated huge fund reserves over the years.
OUR MEMBERS
Progress Trust CPFA Ltd has over 2,300 members all of whom are permanent employees of Nigerian Breweries Plc. Our members are located in our Head office in Lagos as well as in all our Brewery locations in Lagos, Aba, Kaduna, Ibadan, Ama, Otta, Onitsha, Ijebu-Ode, Awo Omamma and Makurdi. We also have members of our Sales Team located in our various Sales Regions across the country.
We have over 900 pensioners who are all retired employees of Nigerian Breweries Plc. residing in different parts of Nigeria.
Our Management Team
MRS. JOY O. OJAKOVO
GENERAL MANAGER
MISS. OLUSOROMIDAYO ORESOTU
COMPLIANCE / RISK MANAGER
MR. JOHNSON ADENOWO
Finance Manager
MR. AYOIFE OLUDAYO
Benefit / Data Administration Manager
MR ADEKUNLE AKINTUNDE
Investment Manager
Board of Directors
Mr. THIBAUT BOIDIN
CHAIRMAN
MRS. JOY O. OJAKOVO
GENERAL MANAGER
MRS. G. OMO-LAMAI
DIRECTOR
MRS. MARIA KARASEVA
DIRECTOR
MRS. O. ALADE-ADEYEFA
DIRECTOR
MRS. U.A. IBEMERE
DIRECTOR
MR. U. G. AGBEBAKU
Company Secretary / Legal Director
Mr. K. A. Yusuff
DIRECTOR
Mr. E. Atabhujie
DIRECTOR
Board Committees
There are three Board Committees
Stanbic IBTC Asset Management Limited – Investment Adviser
Investment Strategy Committee
This committee is responsible for the formulation of internal investment strategies to enable compliance with the Investment guidelines of the Funds, taking into cognizance the macro-economic environment as well as the investment objectives and risk profile of the respective funds. The Committee monitors performance of the funds and also makes investment recommendations to the Board.
- Mr. K. A. Yusuff (Chairman)
- Mrs. G. Omo-Lamai
- Mrs. U.A. Ibemere
- Mrs. J. O. Ojakovo
Alexander Forbes Consulting – Actuarial Consultant
Risk Management and Audit Committee
The role of the Committee is to determine the risk profile of our investment portfolios, advice the CPFA on maintenance of adequate internal control measures and procedures, ensure compliance with Pencom Risk Management guidelines and carry out such other functions relating to risk management as the Board of the CPFA may from time to time determine.
- Mrs. O. Alade-Adeyefa (Chairman)
- Mr. K. A. Yusuff
- Mr. U.C. Okonkwo
- Mr. E. Atabhujie
Nominating and Governance Committee
The role of the Nomination Committee is to nominate appropriate persons for appointment and re-appointment to the Board and Board Committees in line with set criteria
- Mrs. G. Omo-Lamai - Chairperson
- Mr. U.C. Okonkwo
- Mrs. O. Alade-Adeyefa