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Chuks Udo Okonta
Pension fund assets have soared to N15.58 trillion in March 2023 and gained N132.45 billion between February and the period, National Pension Commission (PenCom), has said.
PenCom stated this in unaudited report on pension funds industry portfolio for the period ended 31, March 2023, adding that Retirement Savings Account (RSA) membership as the period stood at 9.95 million.
The pension sector regulator maintained that of the N15.58 trillion, N10.19 trillion – 65.44 per cent has been invested in Federal Government of Nigeria (FGN) securities.
According to PenCom, the breakdown revealed that N9.78 trillion was invested in FGN bonds; N185.51 billion in treasury bills; N11.28 billion in agency bonds; N157.34 billion in sukuk and N58.10 billion in green bonds.
It said state governments’securities gulped N162.19 billion; corporate debt securities, N1.69 trillion and money market instruments, N1.75 trillion.