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The Managing Director, Access Pension Fund Custodian, Mrs Idu Okwuosa, has said the safety of pension funds is paramount to the operators.
She spoke during a virtual media event organised by the Pension Fund Operators Association of Nigeria on ‘Retirement Savings Account transfer window, pension fund investment activities and other penitent issues’ recently.
“‘The public should be assured that all pension assets are traded in the name of the Pension Fund Administrators and Pension Fund Custodian, in other words, the investments are made in the PFA/PFC’s name,” she said.
She noted that the funds under the Contributory Pension Scheme had continued to grow.
Pension fund manager wants to help the Nigerian currency
Bloomberg
Bloomberg
Faced with bond yields coming off record lows and a hard-to-trade equity market, Nigeria s biggest pension fund manager wants the flexibility to invest directly in large local projects.
Financing the development of domestic industries with the naira will also ease pressure on the nation s currency by reducing demand for dollars, said Eric Fajemisin, CEO at Stanbic IBTC Pension Managers. Once up and running, local plants can help cut imports, further benefiting the naira and easing pressure on inflation that s been decimating returns, he said. The firm has more than 3.5 trillion naira ($9 billion) in assets under management.
Biggest Nigerian Pension Fund Manager Plan to Help the Naira
Bloomberg 12/23/2020 Emele Onu
(Bloomberg) Faced with bond yields coming off record lows and a hard-to-trade equity market, Nigeria’s biggest pension-fund manager wants the flexibility to invest directly in large local projects.
Financing the development of domestic industries with naira will also ease pressure on the nation’s currency by reducing demand for dollars, said Stanbic IBTC Pension Managers Ltd. Chief Executive Officer Eric Fajemisin. Once up and running, local plants can help cut imports, further benefiting the naira and easing pressure on inflation that’s been decimating returns, he said.