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Daily Trust - PFAs can invest N2 4trn in infrastructure funds, bonds – Pen

The commission said the Regulation on Investment of Pension Fund Assets had provided that PFAs could invest pension assets for infrastructure development through bonds and funds respectively, up to a maximum of 15 per cent and 5 per cent of assets under management. Going by this regulation, PenCom revealed that given the valuation of the pension assets as at October 2020, which is N12.05trn, up to N2.4 trn could be invested by the PFAs in infrastructure funds and bonds. “The main challenge inhibiting the PFAs from investing the pension assets for infrastructure development is the non-availability of eligible instruments (funds and bonds) in the financial market. The commission and the pension industry would support efforts at issuing eligible instruments for pension funds to support infrastructure development in Nigeria,” PenCom stated.

Nigeria: Why State Governors Should Be Denied Pension Fund Loan Bid

Nigeria: Why State Governors Should Be Denied Pension Fund Loan Bid
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

States Eye Capital Market for Funds to Develop Infrastructure

By Goddy Egene A wave of fundraising by state governments from the capital market through bonds to develop infrastructure is in the offing, THISDAY checks have revealed. Many of the states are in dire financial straits owing to the economic headwinds caused by the double whammy of the COVID-19 pandemic and the sharp drop in global oil price that have depleted their main sources of revenue from the Federation Account and internally generated revenue. The capital market had provided funds to many states in the past to finance infrastructure and Lagos State has been leading in this regards having raised billions of naira over the years.

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