• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Pension Fund Assets Rise To N17.2trn In August

by Zaka Khaliq
2 years ago
in News
Pension Fund
Share on WhatsAppShare on FacebookShare on XTelegram

The nation’s pension assets rose significantly to N17.292 trillion as at the end of August 2023, soaring from N17.07 trillion in July 2023, LEADERSHIP learnt.

Advertisement

This Net Asset Value (NAV) represented a growth of 15.34 per cent in the first 8 months of this year, when compared to the NAV of N14.99 trillion as at December 31, 2022.

While 66.31 per cent of the pension funds were invested in Federal Government of Nigeria (FGN) securities, Corporate Debt Securities gulped 10.74 per cent and Money Market Instruments had 7.51 per cent.

The fund had earlier climbed by N307.12billion to N17.07 trillion in July when compared to  N16.76 trillion in June, 2023.

Investment income, according to LEADERSHIP investigation, was instrumental to the continuous growth in pension fund, despite the fact that some governments at majorly, State level are not paying the monthly pension contributions of their workers as and when due.

RELATED

Professor Dambatta Emerges New Vice Chancellor Of Bayero Varsity Kano

Professor Dambatta Emerges New Vice Chancellor Of Bayero Varsity Kano

18 minutes ago
Wike

No Land Allocated To Wike’s Children, FCTA Insists

46 minutes ago

Similarly, the huge increase, according to findings, was attributed to new pension contributions received, interest from fixed income securities and net realised on equities and mutual fund investments.

Speaking at the National Pension Commission(PenCom)/Nigeria Employers Consultative Association (NECA) Interactive Session on the Contributory Pension Scheme(CPS) for the Organised Private Sector(OPS) in Ikeja, Lagos yesterday, the director general, National Pension Commission(PenCom), Mrs. Aisha Dahir-Umar, applauded  Nigeria Employers’ Consultative Association(NECA) for offering its platform for continuous social dialogue with the members of the Organised Private Sector (OPS) on the implementation of CPS in Nigeria, saying,  the social dialogues have generated an invaluable impact on the implementation of the CPS over the years.

The commission, she stated,  has continued to take giant strides towards ensuring the smooth implementation of the CPS through the revision of existing regulations and guidelines and the development of new ones, adding that, specifically, the PenCom deployed the Enhanced Contributors Registration System (ECRS) for the pension industry.

Following, the deployment of the ECRS, the commission also introduced the Data Recapture Exercise (DRE), which mandatorily requires all RSA holders who joined the CPS prior to the 1st of July 2019 to update their information with their respective Pension Fund Administrators(PFAs), she stressed.

While the commission has consistently urged RSA holders to approach their PFAs for Data Recapture, he said, in order to facilitate the implementation of Section 13 of the PRA 2014 which allows an RSA holder to transfer his/her RSA from one PFA to another at least once in a year, PenCom developed and deployed the RSA Transfer System (RTS) in 2020, adding that, the RTS is a computer-based application for initiating, processing, and monitoring the RSA Transfer process and that it also ensures the seamless transfer of RSAs from one PFA to another.

RSA transfer window, she noted, has continued to improve the quality of service delivery by the PFAs.

In order to ensure that RSA holders own a house during their work life, the commission has released the Guidelines on Accessing Retirement Savings Account (RSA) Balance towards Payment of Equity Contribution for Residential Mortgage by RSA Holders, she  noted.

Dahir-Umar, who was represented by the commissioner, Technical, PenCom, Dr. Anyim Nyerere, said, the growth in the pension fund assets under the new pension scheme, is an indication of prudent and sincere management of the pension fund by the pension operators and the regulator.

According to her, “the maintenance of a consistent growth trajectory continues to justify the Commission’s overriding investment philosophy of ensuring the safety of pension fund assets.”

Similarly, the director-general, NECA, Adewale Oyerinde, pointed out that,  with over 4,000 employers across the federation and over 35 sectoral employer’s federations as affiliates, NECA remains the voice of business in Nigeria.

He said, before 2004, life after retirement could be described as uncertain and unpredictable, however, with Pension Reform Act 2004, repealed and reenacted in 2014, the narrative has changed significantly, adding that the enactment of the Act and with successive PenCom leadership, there has been series of improvement and innovation in the administration of the pension scheme

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: N17.2trnPension Fund
SendShareTweetShare
Previous Post

Sex Scandal: DSS Arrests UNICAL Professor, Ndifon

Next Post

Shelf Drilling Secures $93m Jack Up Rigs Contract In Nigeria

Zaka Khaliq

Zaka Khaliq

You May Like

Professor Dambatta Emerges New Vice Chancellor Of Bayero Varsity Kano
News

Professor Dambatta Emerges New Vice Chancellor Of Bayero Varsity Kano

2025/07/01
Wike
News

No Land Allocated To Wike’s Children, FCTA Insists

2025/07/01
Nigeria
News

Federal Gov’t Approves N65bn Disbursement To Health Facilities

2025/07/01
BREAKING: Angry Senators In Stormy Session, Debate Ningi’s 2024 Budget Padding Claim
News

Dantata: Senate Postpones North-West Constitution Review Public Hearing

2025/07/01
PICTORIAL: Late Businessman Aminu Dantata Buried In Saudi Arabia
News

PICTORIAL: Late Businessman Aminu Dantata Buried In Saudi Arabia

2025/07/01
Tonya Lawani Joins Dangote Group’s NASCON Board As Independent Director
Business

Tonya Lawani Joins Dangote Group’s NASCON Board As Independent Director

2025/07/01
Leadership Conference advertisement

LATEST

Professor Dambatta Emerges New Vice Chancellor Of Bayero Varsity Kano

No Land Allocated To Wike’s Children, FCTA Insists

Federal Gov’t Approves N65bn Disbursement To Health Facilities

Dantata: Senate Postpones North-West Constitution Review Public Hearing

PICTORIAL: Late Businessman Aminu Dantata Buried In Saudi Arabia

Tonya Lawani Joins Dangote Group’s NASCON Board As Independent Director

‘Buhari Left Office Broke But With Integrity Intact’, Says Spokesman Garba Shehu

YPP Elects Madaki, 10 Other Flagbearers For 2026 AMAC Chairmanship, Councillorship Polls

JUST-IN: Atiku, Mark, Lamido, Others In Closed-door Meeting

Reps Probe Nigeria’s €1.2m Debt To OACP

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.