Nigeria nets $26,6b in pension funds
The National Pension Commission (PenCom) said that the total pension fund assets stood at $26.6 billion (about N8.14 trillion) as at May, 2018.The Commission said in a statement signed by its spokesman, Mr. Peter Aghahowa, on Sunday in Abuja that the assets rose from $24.5 billion in December 2017, to $26.6 billion in May 2018.
It also said that $16.9 billion had been invested in Federal Government Securities by the Pension Fund Administrators (PFAs).
According to the statement, the investment represented 70.08 percent of the N8.14 trillion pension assets.
The Pension Reform Act 2004 established the National Pension Commission (PenCom) as the body to regulate, supervise and ensure the effective administration of pension matters in Nigeria.
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