Pension assets in Federal Government of Nigeria (FGN) bonds rose to 53.81 percent in the fourth quarter of 2017, according to data released Wednesday by the country’s statistical agency, the National Bureau of Statistics (NBS).
The NBS stated that of the 7.515 trillion pension fund assets under management about 54 percent were in FGN bonds closely followed by those invested in treasury bills, which had a 15.68 percentage weighting.
Domestic ordinary shares accounted for 8.94 percent of the assets, while those in agency bonds has the least percentage weighting at 0.008 percent.
The NBS data Q 4 2017 also reflected that 7,823,911 workers were registered under the pension scheme compared to 7,710,564 registered workers in Q 3 2017 while the pension fund asset under management as at Q 4 2017 stood at N7.515 billion as against N7.164 trillion in Q 3 2017.
Participants within the age distribution 30-39yrs have the highest percentage composition closely followed by participants within the age bracket of 40-49yrs and 50-59yrs while participants above 60years have the least percentage composition.
Equities February 25, 2020