Nigeria, Feb. 25 -- The Jigawa State and Local Governments Contributory Pension Scheme Board has disengaged five out of its six pension fund administrators (PFAs) following a N6.9 billion bailout of the scheme from a financial crisis.

The state's Head of Civil Service, Muhammad Dagaceri, said the step was taken to secure the financial future of pensioners and enhance transparency and efficiency in the pension management process.

The disengaged PFAs are Veritas Pension, Leadway Pension, Fidelity Pension, Access Pension, and Oak Pension.

They were accused of not performing to the expectation of the pension scheme.

Mr Dagaceri announced Premium Pension Fund (lead PFA), PAL Pension, GT Pension, NLPC Pension, Norrenberger Pension and Crusa...