Nigeria’s Pension Fund Assets rises to ₦8.14 trillion

The National Pension Commission (PenCom) said that the total pension fund assets stood at ₦8.14 trillion as at May, 2018.

PenCom in a statement signed by its spokesman, Mr Peter Aghahowa, on Sunday said the assets rose from ₦7.52 trillion in December 2017, to ₦8.14 trillion in May 2018.

The commission said,”the pension assets as at December 2017 stood at ₦7.52 trillion. It moved up to ₦7.8 trillion as at February and soared to ₦7.94 trillion in March, then to ₦8.14 trillion in May.”

It also said that ₦5.2 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 ₦8.14 trillion pension assets.

“In a breakdown of the investment, FGN bonds got ₦3.96 trillion; treasury bills, ₦1.68 trillion, agency bond like the Nigeria Mortgage Refinancing Company (NMRC) and the Federal Mortgage Bank of Nigeria (FMBN) got ₦6.54 billion, Sukuk bonds got ₦51.98 billion and green bond got ₦8.26 billion.

“The state government securities gulped ₦154.02 billion; corporate bonds, ₦393.27 billion; corporate infrastructure bonds, ₦8.36 billion; banks, ₦662.80 billion; commercial papers, ₦71.75 billion and estate properties, ₦228.86 billion.

“Other classes of assets include, supra-national bonds, ₦8.21 billion; open/close end funds, ₦10.16 billion; mutual funds, ₦1987 billion; private equity fund ₦3727 billion; infrastructure fund, ₦8.95 billion and cash & other assets ₦96.13 billion,” the commission said.

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