Nigeria. Pension Funds downsize investments in states by 36%

Pension Funds Administrators (PFAs) are now downsizing their investments in state governments’ bonds amidst fears that the states’ financial stability and their commitment to pensions are questionable. Financial Vanguard’s findings in the data from the National Pension Commission, (PenCom) shows that the PFAs’ investments in state government securities fell by a huge 36 percent to N97.89 billion in the first half of 2021 (H1’21) from N152.93 billion in the corresponding period in 2020 (H1’20). But the PFAs’ interest in Federal Government...