Pension Fund Assets Grows to N23.366 Trillion
Nigeria’s total pension fund assets climbed to N23.266 trillion, according to the latest data released by the National Pension Commission (PenCom).
Details showed that Pension Fund Administrators (PFA) placed more than 62% of total pension assets in Federal Government of Nigeria debt securities as of February close.
The Pension Commission reported that pension assets climbed to N23.266 trillion in February, which represents an increase of more than N405 billion over N22.861 trillion reported in January.
Further details revealed that total investment in FGN debt instruments gulped N14.468 trillion—with bonds accounting for 85% of investment in government papers.
Total pension assets include a N2.38 trillion investment in corporate debt securities in the month, according to the report. Another N2.213 trillion was placed in the money market.
PFAs also invested N2.82 trillion in the equities market, with an additional N268 billion placed in foreign stocks. #Pension Fund Assets Grows to N23.366 Trillion First Holdco Falls below N1 Trillion in Equities Market
