THE NEXUS BETWEEN CONTRIBUTORY PENSION FUNDS AND DEPOSIT MONEY BANKS’ PROFITABILITY IN NIGERIA

The issue of pension fund management and how pensioners are being owed substantial amounts at their retirement year is still a rampaging case in Nigeria. Also, many retirees do not understand the dynamics of pension fund management. Hence, the main objective of this study was to investigate how the contributory pension fund has impacted Nigerian 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 period 2015Q1 till 2022Q4 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.