FGN Securities gulp N6.51trn as pension assets hit N9.03trn

The National Pension Commission (PenCom) has said  the Federal Government’s securities have swallowed over N6.51 trillion as the total pension fund assets rose to N9.03 trillion as at March 2019. Data obtained from PenCom stated that  Pension fund Administrators (PFAs) within the period under review invested N4.46 trillion amounting to 49.37 per cent in FGN Bonds; N1.94 trillion in Treasury Bills (21.44 per cent); N11.96 billion in Agency Bonds (NMRC & FMBN), (0.13 per cent); N94.11 billion in Sukku (1.04 per cent) and N8.51 billion in Green bonds, (0.09 per cent.).

 PenCom noted that in line  with the Multi-fund structure, Retirement Saving Account (RSA) Fund 1, N12.73 billion was invested; RSA Fund 11, N3.99 trillion; RSA Fund 111, N2.15 trillion and RSA Fund IV, N732.13 billion. It stated that N596.61 billion, which is 6.54 per cent of the funds, was invested in domestic ordinary shares; while N62.59 billion, amounting to 0.69 per cent in foreign ordinary shares. The pension industry regulator maintained that pension operators invested N144.31 billion (1.60 per cent) in State Government’s Securities; Corporate bonds got N463.99 billion (5.4 per cent); Corporate Infrastructure bonds, received N8.64 billion, (0.10 per cent); Corporate Green bonds, N5.46 billion(0.06 per cent) Supra-National Bonds got N5.37 billion (0.06 per cent); local money market, N874.39 billion, (9.68 per cent) commercial papers, N64.46 billion (0.71 per cent); Banks, N809.94 billion (8.97 per cent).

Others are, Reits, N14.27 billion, (0.16 per cent) Foreign Money Market Securities, N22.54 billion, (0.25 per cent); private equity fund, N32.34 billion, (0.36 per cent), Real Estate Properties, N231.37 billion, (2.56 per cent); infrastructure funds, N29.40 billion, (0.33 per cent) and cash & other assets, N25.16 billion, (0.28 per cent). Following the rise, The Acting Director-General, PenCom, Mrs. Aisha Dahir-Umar said that the public confidence and acceptability of the Contributory Pension Commission (CPS) has increased and is gradually changing Nigeria’s financial and socio-economic narrative