NIPC records huge investment drop

As of the end of December 2019, data from the National Pension Commission revealed that the Pension Fund Administrators have reduced the amount of funds invested in real estate assets to ₦220 billion.

The new amount indicates 2.15 percent of the total assets of the Contributory Pension Scheme, which stood at ₦10.21 trillion during the period under review.

Read Also: Lagos Records Massive Drop In Okada Accident – Commissioner

According to a report by PenCom,  operators had invested ₦250.02 billion in real estate as at the end of June 2019, it also stated said that the operators invested part of the funds in the Federal Government’s bonds, treasury bills, and state governments’ securities.

Part of the funds was also invested in agency bonds, supra-national bonds, commercial papers, foreign money market securities, and open/close-end funds.

Muhammad Ahmad, the pioneer Director-General, PenCom, said there was a need to encourage the development of enabling framework for pension funds to facilitate national development. Going by that, Public-Private Partnership rules needed to be strengthened at both the national and state levels, he added.

---

Advertise or Publish a Story on EkoHot Blog:

Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.

Citizen journalists will receive a token as data incentive.

Call or Whatsapp: 0803 561 7233, 0703 414 5611