The National Pension Commission said on Sunday that the total pension fund assets stood at N8.14tn as of May this year, the News Agency of Nigeria reported.
PenCom said in a statement signed by its spokesperson, Mr Peter Aghahowa, that the assets rose from N7.52tn in December 2017, to N8.14tn in May 2018.
“The pension assets as of December 2017 stood at N7.52tn; it moved up to N7.8tn as of February and soared to N7.94tn in March, then to N8.14tn in May,” the commission stated.
It explained that N5.2tn had been invested in the Federal Government securities by the Pension Fund Administrators.
It said the investment represented 70.08 per cent of the N8.14tn pension assets.
It added, “A breakdown of the investment shows that FGN bonds got N3.96tn; treasury bills, N1.68tn; agency bonds like the Nigeria Mortgage Refinancing Company and the Federal Mortgage Bank of Nigeria, N6.54bn; Sukuk bonds got N51.98bn; and green bonds, got N8.26bn.
“The state government securities gulped N154.02bn; corporate bonds, N393.27bn; corporate infrastructure bonds, N8.36bn; banks, N662.80bn; commercial papers, N71.75bn; and real estate properties, N228.86bn.
“Other classes of assets are supra-national bonds, N8.21bn; open/close end funds, N10.16bn; mutual funds, N19.87bn; private equity fund, N37.27bn; infrastructure fund, N8.95bn; and cash and other assets, N96.13bn.”