By Favour Nnabugwu
The pension fund investment in Federal Government securities rose by 4.92 percent from N9.19trillion as of September 30, 2022 to N9.64trillion as at December 2022 last year.
The National Pension Commission (PenCom), stated in its Fourth Quarter 2022 report that the increase in the value of investments in FGN Securities was majorly due to additional investments in this asset class during the quarter.
The report showed that the total value of pension fund assets as at December 31, 2022 was N14.99 trillion, which comprised of N10.72 trillion RSA ‘Active’ Funds I, II III and V; N1.19 trillion RSA Retiree Fund IV; N1.57trillion Closed Pension Fund Administrators (CPFAs); and N1.48 trillion Approved Existing Schemes.
Fund VI Active and Retiree Fund amounted to N36.20 billion.
A breakdown of the fund further showed that pension fund assets were mainly invested in Federal Government Securities (FGN), which accounted for 64.33 percent of total assets.
The report read: “The composition of investments in FGN Securities includes FGN Bonds at 95.60 percent; Treasury Bills at 2.06 percent; and Agency Bonds, Sukuk and Green Bonds accounting for 2.34 percent.