N19.21tn of pension fund assets invested by PFOs – PenCom

Director General PenCom, Aisha Dahir-Umar

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Chuks Udo Okonta

The National Pension Commission (PenCom) has said N19.21 trillion out of the N19.53 trillion as January 31, 2024 has been invested by Pension Fund Operators (PFOs).

PenCom in its Unaudited Report on Pension Funds Industry Portfolio for the Period Ended January 31, 2024, stated that the operators after the investment are left with N230.27 billion as cash and other assets.

The pension industry regulator submitted that the assets gained N1.17 trillion between December 31, 2023 and January 31, 2024, attributing the gain to foreign currency denominated investments made by Closed Pension Fund Administrators (CPFAs) and Existing Schemes.

PenCom said N12.14 trillion of the fund has been invested in Federal Government of Nigeria securities, which breakdown revealed that, bonds gulp N11.59 trillion; treasury bills, N221.81 billion; agency bonds, N14.86 billion; sukuk bonds, N124.89 billion and green bonds, N181.57 billion.

It said N270.00 billion was invested in state government securities and N1.71 trillion in money market instruments.

PenCom said the fund assets in United States Dollars value was N14.39 billion at an exchange rate of N1,356 per a Dollar.

According to PenCom the Retirement Savings Account (RSA) membership as at the period was 10.22 million.

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