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    Security features of the new naira notes revealed by the CBN

    JUST IN: CBN orders banks to begin payment of new notes over the counter

    Atiku heads to Europe on ‘business trip’

    Why CBN should not extend naira swap deadline – Atiku

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    Place Peter Obi on terror watch list – Keyamo tasks security agencies

    Obi not in talks with Atiku, won’t step down — Campaign Council

    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

    Obanikoro tells court how he gave Fayose N1.2bn from Lagos Security Account

    They want to starve us of funds – IPOB  DOS cries out

    They want to starve us of funds – IPOB DOS cries out

    ‘Elements’ in Aso Villa want APC to lose election –  El-Rufai

    ‘Elements’ in Aso Villa want APC to lose election – El-Rufai

    Suspected herdsmen ambush Benue policemen, kill DPO

    Suspected herdsmen ambush Benue policemen, kill DPO

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

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    • Budgets
    • Economic Data
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    • All
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    • Cryptocurrencies
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    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.49%

    Equity Market turns bearish… As Value Traded Spikes by 409.01%

    The Local bourse Closed The Week Bearish… As the NGX-ASI fell by 0.18%.

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

    FGN Savings Bond rate rises above 12% in September 2022

    DMO offers N360 bn FGN Bonds for subscription in January

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    Sellers Sway the Performance of the Equities Market… As NGX-ASI Dips By 0.09%

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    NGX Reg lifts suspension on Trading of Niger Insurance Plc’s shares

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    2022 financial year: UAC of Nigeria posts N2.69 billion loss

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    CAP Plc posts N2.08bn profit in 2022, 85.95% YoY growth

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    2023 Bible Lessons on Setting your Financial/Investment Goals

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    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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Home Economy Economic Data

PenCom Says Contributory Pension Assets Have Risen to N12.4tn

Thursday, 27 May 2021, 8:43 pm
in Economic Data, Economy
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PenCom Says Contributory Pension Assets Have Risen to N12.4tn
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Data from the National Pension Commission (PenCom), on Wednesday, has revealed that the total assets under the Contributory Pension Scheme rose to N12.4tn as at the end of April.

This was disclosed in its unaudited report on the industry for the period ended April 30, 2021. The report

Showed data on “approved existing schemes, Closed Pension Fund Administrators and Retirement Savings Funds (including unremitted contributions at the Central Bank of Nigeria and legacy funds).”

The CPS returned to a growth path, having lost some funds in recent months, as it gained N92bn in March, rising from N12.25tn in February to N12.34tn as at March ending.

Despite being the fastest-growing funds in Nigeria, the assets lost N7bn in January and another N52bn in February.

PenCom also revealed that N8.4tn of the funds was invested in Federal Government’s securities in March while “domestic and foreign ordinary shares, corporate debt securities comprising of corporate bonds, corporate infrastructure bonds, corporate green bonds and supranational bonds” were other investment portfolios where funds were invested.

Investments were also made from the funds into local money market securities, which includes bank placements, commercial papers and foreign money market securities.

The rest of the funds were invested by the PFAs invested in mutual funds which include “open/close-end funds, real estate investment trusts, real estate properties, private equity funds, infrastructure funds, cash and other assets.”

Azuka Edokobi
Azuka Edokobi

Azuka Edokobi is a Writer , a Farmer, a Supply Chain Expert and an Entrepreneur

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