Corporate Governance and Corporate Survival of Pension Funds Administrators (PFAs) in Nigeria: The Regulatory and Supervisory Roles of National Pension Commission (PenCom)

Abstract

The research is Corporate Governance and Corporate Survival of Pension Fund Administrators (PFAs): The Regulatory and Supervisory Roles of National Pension Commission (PenCom). It aimed at studying the relationship between corporate governance and corporate survival of PFAs, recognizing the regulatory and supervisory roles of PenCom. Desk Research method was used for data collection through review of literatures. Following the review, it was found that the independent variable had direct effect on dependent variable (innovation as the proxy). Furthermore, the Pension Reform Act (PRA), which established the National Pension Commission (PenCom), also detailed the powers and functions of PenCom to include the licensing of PFAs as well as the revocation of such licences as the case may be among other sanctions in a situation whereby any PFA compromises the established standard of corporate governance. This has forced the PFAs to take matters of corporate governance seriously, and this was found to show further effect on the dependent variable. In view of these, it was recommended that PenCom should not relent in their regulatory and supervisory roles in relation to the PFAs to prevent violation of corporate governance, and that PFAs should maintain the highest standard of corporate governance so as to prevent any form of sanctions from PenCom that may jeopardize their survival.