PFAs invest N1.7bn in infrastructure

Nike Popooola

The total funds invested by operators of the Contributory Pension Scheme in infrastructure have risen to N1.7bn.

Statistics obtained by our correspondent also showed that the total pension assets under management of the operators in July 2016 rose to N5.82tn.

A higher percentage of the funds, totalling N3.98tn or 68.42 per cent, was invested in the Federal Government of Nigeria’s securities, the report indicated.

The National Pension Commission has given the guidelines to operators on the direction for investing the growing pension funds in infrastructure.

It stated that as much as 15 per cent of the total value of the pension fund assets under management could be invested in infrastructure through infrastructure bonds; and another five per cent of the total value of pension fund assets could be invested in infrastructure through infrastructure funds, making 20 per cent of the total value of the pension assets.

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