The Contributory Pension Scheme’s assets returned to growth in October, gaining N164 billion after suffering a loss of about N2 billion in September.Information Guide Nigeria

This was disclosed in the National Pension Commission’s most recent monthly report, titled “Unaudited report on pension funds industry portfolio for the period ended 31 October 2022.”

The assets increased to N14.59 trillion in October from N14.424 trillion and N14.426 trillion at the end of August, according to the data.

Other Top Stories:

• Zenith wins Bank of the Year Award
• Nigeria can earn $40bn from tech sector – NITDA
• Nigeria’s telecoms subscribers hit 214 million
• Foxconn: iPhone maker offers payments for finding new workers

According to the figures, N9.23 trillion was invested in Federal Government securities, N1.53 trillion in corporate debt securities, N2.17 trillion in money market instruments, and N65.68 trillion in mutual funds.NYSC portal

The Pension Reform Act of 2014 mandates that Pension Fund Administrators handle monies held in the custody of Pension Fund Custodians.JAMB portal

Profits from the investing of pension funds are necessary to increase the balances in the workers’ Retirement Savings Accounts.JAMB Result

When investing funds in any portfolio, PFAs are expected to follow PenCom’s investment standards.

Check JAMB Result

Check and Confirm: How much is Dollar to Naira