The National Pension Commission (PenCom) reported total pension fund assets of N20.48 trillion in June, reflecting an increase of N256.76 billion or 1.27 percent from the N20.22 trillion recorded in May.
This information is included in PenCom’s ‘2024 June Monthly Report,’ which presents unaudited data on the pension funds industry portfolio as of June 30, 2024. The portfolio includes federal government securities such as bonds, treasury bills, sukuk, and green bonds.
According to the report, approximately N12.96 trillion (63.27 percent) of the fund was invested in FGN securities in June, slightly up from 63.22 percent in May. Corporate debt securities increased to N2.20 trillion (10.78 percent), and money market instruments accounted for N1.91 trillion (9.34 percent).
However, investment in mutual funds decreased to N83 billion (0.41 percent) from N95 billion (0.47 percent) in the previous month.
Additionally, Retirement Savings Account (RSA) registrations rose from 10,351,624 in May to 10,381,019 in June, an increase of 0.28 percent.
On July 13, President Bola Tinubu appointed Omolola Oloworaran as the new director-general (DG) of PenCom, replacing Aisha Dahir-Umar, who had served as the substantive DG since 2017. However, Naija traffic reported that Oloworaran’s appointment might not meet statutory qualifications under the Pension Reform Act, 2014, unless the Act is amended before her Senate confirmation hearing.
