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 is a Writer and Entrepreneur