Pension assets dip by N7bn

Nigeria receives over £26m repatriated pension from UK

Pension assets dip by N7bn     Latest report by the National Pension Commission (PenCom) has shown that aggregate pension assets in Nigeria took a dive by N7 billion in January. Business Metrics found that the pension assets which ended December 2020 at N12.306 trillion fell by N7 billion to N12.299 trillion as of the end of January. Meanwhile, some operators have also disclosed that has ordered the Pension Funds Administrators (PFAs) to raise their shareholders’ funds from N1 billion to N5 billion. According to the commission, the total number…

Read more

N8.13trn of Nigeria’s pension assets locked in FG bonds

Pensioners claimed N67.42bn benefits in Q1 – PenCom

N8.13trn of Nigeria’s pension assets locked in FG bonds Pension Funds Administrators (PFAs) in Nigeria have sustained their age-long appetite for the less risky federal government bonds as 66.1 per cent of total pension assets in the country is currently locked in the bonds. Latest statistics show that total pension assets under the Contributory Pension Scheme rose by 21 per cent to hit N12.3 trillion as of the of the 2020. According to the data obtained from the National Pension Commission (PenCom) on Friday, this figure is N2.1 trillion higher…

Read more