National Wire About Nigerians, Nigerian Business and Other Stories
Pension Fund Administrators have gradually increased the amount of funds invested in infrastructure under the Contributory Pension Scheme to N4.2 billion. Figures obtained from the National Pension Commission on Tuesday showed that this translated to 0.07 per cent of the total funds under the scheme, which rose to N6.49 trillion as of April this year.
According to PenCom, in May 2015, the operators invested N568 million in infrastructure for the first time, and increased it to N1.82 billion in September 2016. Some operators who spoke with our correspondent said that investors had continued to mount pressure on them to part with the funds in their custody.
The operators, who noted that the funds were not lying idle, said they had been invested in different portfolios such as the FGN bonds, treasury bills, domestic ordinary shares, local money market securities, corporate debt securities, real estate properties, state government securities, foreign domestic shares and cash/other assets.
