Home / BUSINESS / Business News / Nigeria’s Pension Funds hit N8.14 Trillion 

Nigeria’s Pension Funds hit N8.14 Trillion 

 
 
By Tony Obiechina 

The National Pension Commission (PenCom) has disclosed that the total pension fund assets stood at N8.14 trillion as at May, 2018.

A statement signed by PenCom spokesman, Mr Peter Aghahowa, on Sunday in Abuja said the assets rose from N7.52 trillion in December 2017, to N8.14 trillion in May 2018.
According to the commission, ”the pension assets as at December 2017 stood at N7.52tn. It moved up to N7.8 trillion as at February and soared to N7.94 trillion in March, then to N8.14 trillion in May.”
It also said that N5.2 trillion has been invested in Federal Government Securities by the Pension Fund Administrators (PFAs) It said the investment represented 70.08 per cent of the N8.14 trillion pension assets.
“In a breakdown of the investment, FGN bonds got N3.96 trillion; treasury bills, N1.68 trillion, agency bond like the Nigeria Mortgage Refinancing Company (NMRC) and the Federal Mortgage Bank of Nigeria (FMBN) got N6.54 billion, Sukuk bonds got N51.98 billion and green bond got N8.26 billion.
“The state government securities gulped N154.02 billion; corporate bonds, N393.27 billion; corporate infrastructure bonds, N8.36 billion; banks, N662.80 billion; commercial papers, N71.75 billion and estate properties, N228.86 billion.
“Other classes of assets include, supra-national bonds, N8.21 billion; open/close end funds, N10.16 billion; mutual funds, N1987 billion; private equity fund N3727 billion; infrastructure fund, N8.95 billion and cash & other assets N96.13 billion,” the commission added.

 

 

About Editor_01

Check Also

Sterling Bank, AFEX Commodities Exchange Launch Digital Platform to Boost Agriculture

  By Oluwafunke Ishola Sterling Bank and AFEX Commodities Exchange have launched a digital platform …

AfDB Reels Out Achievements on Energy Projects

    The just-concluded Africa Investment Forum  (AfricaInvestmentForum.com) successfully convened key stakeholders, and provided an unprecedented platform …

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: