Nike PopoolaThe Federal Government, through the Pension Funds Administrators, has invested N6.86bn from the workers’ monthly contributions, in bonds meant to develop the nation’s infrastructure, as of December last year. The PFAs invested N2.06bn in infrastructure bond in December 2016, and had gradually increased the pension funds invested in the portfolio. Other investment portfolios where the operators invested the funds are REITS, private equity funds, infrastructure funds, cash and other assets. It stated, “The multi-fund structure shall comprise Fund I, Fund II, Fund III, and Fund IV (retiree fund). Under the Pension Reform Act, the PFAs are required by law to administer the funds, while the Pension Fund Custodians keep custody of the assets.

Source: Punch February 11, 2018 00:22 UTC