Authors : Isibor Areghan, Efezokhae Josephine, Maduekwe Chisom, Chibuzor Joy and Aguzue Sandra
Abstract: The issue of pension fund management and how pensioners are being owed substantial amount at their retirement year is still a rampaging case in Nigeria. Many do not understand the dynamics of pension fund management. Hence, the main study objective was to investigate the contributory pension funds effect on bank’s profitability. A model was adopted and modified with variables relevant to the course of study like Profit after Tax (PAT), Pension Funds (PEN) and inflation and secondary data for each variable was extracted from the banks’ financial statement, PENCOM financial statements and the CBN statistical bulletin. The data was from periods 2008 till 2019 and was analyzed by using the multiple regression analysis. The study found out that both pension funds and investment were positively significant. The study thus recommended that all pension firms must be monitored frequently so as to reduce the incidence of fraud.
Isibor Areghan, Efezokhae Josephine, Maduekwe Chisom, Chibuzor Joy and Aguzue Sandra, 2022. Contributory Pension Funds and Deposit Money Banks’ Profitability in Nigeria. The Social Sciences, 17: 1-8.