Wednesday, April 14, 2021

Pension fund assets hit N8.14tr — PenCom


Jaafar Jaafar
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
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The National Pension Commission, PenCom, said that the total pension fund assets stood at N8.14 trillion as at May, 2018.

PenCom in a statement signed by its spokesman, Peter Aghahowa, on Sunday said  the assets rose from N7.52 trillion in December 2017, to N8.14 trillion in May 2018.

The commission said,”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.”

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It also posited 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.

“A breakdown of the investment is 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.

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“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 said.

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