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.