Nike PopoolaPension Fund Administrators have gradually reduced investment of pension funds in the Contributory Pension Scheme in treasury bills, findings have revealed. Data obtained by our correspondent from the National Pension Commission revealed that the operators have increased their investments in commercial papers and bank placements. The operators increased investment of the funds in local money market securities, which included bank placements and commercial papers from N1.15tn in October 2019 to N1.6tn in February 2020. Commercial papers are gradually becoming alternative options for investors to invest funds that were hitherto stashed in treasury bills, experts have said. The Managing Editor, Proshare (investment analysts), Teslim Shitta-Bey, noted that while there were very limited investment options, investment in commercial papers was still a good option.

Source: Punch June 02, 2020 07:52 UTC