Kindly leave a comment and share
Chuks Udo Okonta
Pension Fund Operators (PFOs) invested N14.45 trillion out of the N14.59 trillion pension fund assets and retained N135.44 billion as cash and other assets in the month of October 2022, Inspenonline can report.
This is contrary to some erroneous beliefs that the pension fund assets is idle and should be accessed by government to reflate the economy.
The National Pension Commission (PenCom) stated had in its unaudited report on pension funds industry portfolio for the period ended October 31, 2022, published data used for this report.
PenCom noted that the fund assets gained N164.44 billion between September and October 2022 as the fund assets moved from 14.42 trillion to N14.59 trillion.
The pension regulator said 57,608 pension contributors were registered within the same period, rising from 9.79 million to 9.85 million.
It maintained that N9.23 trillion of the N14.59 trillion, 63.23 per cent was invested in Federal Government of Nigeria securities of which breakdown revealed that N8.84 trillion went to FGN bonds; treasury bills gulped N187.22 billion, agency bonds, N11.68 billion; sukuk bonds, N128.41 billion and green bonds, N58.27 billion.
PenCom stated that N167.87 billion was invested in State Government securities, while money market instruments gulped N2.17 trillion.
