Nigeria’s total pension asset value rose by N123.47 billion in July 2021 to close at N12.78 trillion compared to N12.66 trillion recorded in the previous month.
This was contained in the pension funds industry report for the month under review as released by the National Pension Commission.
According to the report, the net asset value of Nigeria’s pensions fund recorded a 0.98 per cent increase in the month of July 2021, while 22,349 Retirement Savings Account (RSA) registrations were recorded in the same month, bringing the number of contributors to 9.4 million.
The data revealed that pension asset value gained N474.49 billion between January and July, while 189,765 more contributors have been registered into the scheme within the period.
As of the end of July 2021, most pension funds were invested in FGN Securities, with N8.1 trillion accounting for 64.2 per cent of the total funds, while a month-on-month comparison shows that investment in FGN securities declined by 3.2 per cent in the review month. This is just as local money market instruments, accounted for 16.5 per cent of the total pension fund asset with N2.1 trillion, recording a significant 21.4 per cent increase compared to N1.74 trillion recorded in the previous month.
On the other hand, investment in mutual funds stood at N116.26 billion, which is about 0.9 per cent of the entire pension fund.
