States Securities Taking Back Seat With N141bn Pension Fund Investment – Report

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States Securities Taking Back Seat With N141bn Pension Fund Investment – Report

The states securities have re­corded the lowest percentage to a paltry 1.34% or N141billion out of the N10.50trillion pension fund for investment, a situation indus­try watchers attribute to their in­ability to enact pension laws and laws that will comply with the Contributory Pension Scheme under the Pension Reform Act 2014 in their domains.
This is a sharp contrast from the investment of the funds in the Federal Government se­curities which stands at over N7.09trillion or 67.51% of the N10.50trillion assets under management, the largest chunk of the pension fund investment, according to reports.
According to available statis­tics, the Contributory Pension Assets rose by approximately N77billion in February 2020 compared to the N212billion in January 2020.
While total assets under the CPS also rose to about N10.50tril­lion, followed by local money mar­ket securities with N1.60trn or 15.25%, investment of the fund in Corporate Debt Securities stood at N662bn, representing 6.30%.

Within the same period, N532bnDomestic Ordinary Shares N532bn, 5.07%, Real Es­tate Properties N220bn, 2.09%, State Govt Securities N141bn 1.34%, Foreign Ordinary Shares N65bn 0.62%.

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