By Munachimso Obienyi
Nigerian Pension Fund Administrators (PFAs) raised their investments in federal government securities by N184.47 billion in the third quarter of 2022, lower than N505.81 billion invested in the previous quarter.
This is according to data from the National Pension Commission (PENCOM).
Investments in federal government securities by the pension industry hit N9.19 trillion as of September 2022 from N9.01 trillion recorded as of the end of June 2022. This brings the total investments in FGN securities to N418.7 billion, between January and September 2022.
Also, the total pension asset under management rose to N14.42 trillion by the end of September 2022, from N14.27 trillion recorded as of the previous quarter, representing an increase of N156.74 billion in the past three months.