RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home Banking

Pension assets fall by N2bn in one month

Rate Captain by Rate Captain
November 7, 2022
in Banking
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The total assets under the contributory pension scheme lost nearly N2bn in one month.

This was contained in the National Pension Commission’s latest report titled, ‘Unaudited report on pension funds industry portfolio for the period ended 30 September 2022.’

AlsoRead

FBNH Plc reports Gross Earnings of N805.128 billion in 2022.

Telcos issue banks disconnection notice over USSD debt

Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

According to the report, the figure, which stood at N14.426tn as of the end of August 2022, fell slightly to N14.424tn The funds, which ended December 31, 2021, at N13.42tn, rose to N14.426tn by the end of August.

According to PenCom’s report, the total number of workers with Retirement Savings Account was 9,792,486 as of the end of September. as of the end of September 2022.

The total assets under the contributory pension scheme had earlier gained N1.01tn since the beginning of the year before setting on a downward trend.

The funds, which ended December 31, 2021, at N13.42tn, rose to N14.426tn by the end of August.

According to PenCom’s report, the total number of workers with Retirement Savings Account was 9,792,486 as of the end of September.

The operators invested N1.49tn or 10.31 per cent in corporate debt securities, while N2.11tn or 14.59 per cent was invested in money market instruments.

The operators invested N59.63bn in mutual funds in the period under review.
Under the Pension Reform Act 2014, the Pension Fund Administrators manage the funds which are kept in the custody of the Pension Fund Custodians.

Profits earned from the investment of pension funds are required to lift up the balances in the workers’ Retirement Savings Accounts.

The PFAs are required to follow the investment guidelines of PenCom in putting investing of the funds in any portfolio.

Previous Post

Ghana saying bond investors would not make losses from the IMF deal.

Next Post

AfDB signs $50m deal with FCMB

Related News

FBNH Plc reports Gross Earnings of N805.128 billion in 2022.

FBNH Plc reports Gross Earnings of N805.128 billion in 2022.

by Rate Captain
June 2, 2023
0

FBN Holdings Plc, a leading financial institution, has announced the release of its audited financial statements for the year ending...

Telcos issue banks disconnection notice over USSD debt

Telcos issue banks disconnection notice over USSD debt

by Rate Captain
June 2, 2023
0

Telecommunication firms in Nigeria have issued a notice of disconnection to Deposit Money Banks (DMBs) due to an ongoing dispute...

Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

by Rate Captain
June 1, 2023
0

Providus Bank Plc, a leading personal and private commercial bank in Nigeria known for its robust IT infrastructure and digital...

CBN Denies Naira Devaluation Amidst False News Reports by Daily Trust.

CBN Denies Naira Devaluation Amidst False News Reports by Daily Trust.

by Rate Captain
June 1, 2023
0

The Central Bank of Nigeria (CBN) has issued a press release today to dismiss recent claims made by the Daily...

Next Post
AfDB signs $50m deal with FCMB

AfDB signs $50m deal with FCMB

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Buhari and state governments get N651 million hardship allowance.

Former President Buhari Submits Assets Declaration Forms, Shows Zero Debt.

June 4, 2023
Rising Prices of Food and Essential Goods Follow Fuel Subsidy Removal Announcement by President Tinubu

Rising Prices of Food and Essential Goods Follow Fuel Subsidy Removal Announcement by President Tinubu

June 4, 2023

Popular Story

  • Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

    Providus Bank Plc Announces Graduate Management Trainee Program 2023/2024.

    0 shares
    Share 0 Tweet 0
  • Former President Buhari Submits Assets Declaration Forms, Shows Zero Debt.

    0 shares
    Share 0 Tweet 0
  • Embracing Remote and Hybrid Work to Beat Transportation Costs in Nigeria.

    0 shares
    Share 0 Tweet 0
  • FG secures $800 million loan from the World Bank.

    0 shares
    Share 0 Tweet 0
  • Nigerian Banks to Demand Tax Clearance Certificate Before Customers Can Buy Dollars, Other Foreign Currencies

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>