Skip to main content

FG borrowed over N6trn from pension fund


About N6.16 trillion out of the N8.49 trillion pension asset under the Contributory Pension Scheme has been borrowed by the Federal Government.


This was revealed by the National Pension Commission (NPC) on Tuesday in Abuja. It was reported by the pension commission that the Federal Government's borrowing signifies 72.5% of the pension fund.


The Pension Fund Administrators also spent 6.87% or N584.321bn of the fund in domestic ordinary shares and 0.71% or N60.529bn of the fund was spent in foreign ordinary shares, according to data from PenCom.


The commission stated that, it maintained its consultative ideology in running and management of the industry, said the risk-based examination approach was created as a means of boosting clarity and creating awareness as well as stimulating pension operators to frequently self-analyze their roles.


The Acting Director-General, PenCom, Mrs Aisha Dashir-Umar, stated that, in order to achieve a desirable pension sector, the commission grants no room for violation and consultative management ideology in the granting of regulations and the review of current ones to boost accurate corporate operation in the industry and guarantee the protection of the pension assets.

Comments

Popular posts from this blog

Food Science and Technology vs Nutrition and Dietetics : Know the difference

I have noticed people often use these terms interchangeably, but is it proper to use them interchangeably? Perhaps you are always confused about the differences between these courses. I think you are on the right track in clearing your doubt as  I (the writer of this article) have a diploma in Food Science and Technology and I also hold a degree in Nutrition and Dietetics. Can you now see I'm qualified to clear your doubt and confusions? Get a brandable domain name for your business today!!! Nutrition : Nutrition is the process by which nutrients and the substances in food interacts with one another so as to be useful for growth, repair, metabolism, reproduction, maintenance of health and management of diseases. Dietetics : This is the application of knowledge of nutrition to human diet in order to maintain good health and to manage illness and diseases. Food science : This is the application of basic science and engineering to study the chemical, microbiological, bioch

Difference between home science (Nutrition and dietetics specialization) and Nutrition and dietetics Major

       Nutrition is the process by which nutrients and other substances in food interact with one another after absorption, in order to be useful for growth, repair, metabolism, reproduction, maintenance of health and management of diseases.      Dietetics on the other hand, is the application of the knowledge of nutrition to human diet (diet is the total food eaten by an individual) in order to maintain good quality health and manage illnesses and diseases.     Home science or family and consumer science is an interdisciplinary field of knowledge which the objective is at achieving the proper maintenance of individuals, family and society well-being. I previously wrote a detail article about  Home science . To understand this article, let's first explain the meaning of Degree specialization and Major degree. Download interesting books, novels, storybooks and movies • Degree specialization or concentration : This is usually in between a degree program and a specific

All you need to know about Housemaster/Housemistress role

     A Housemaster(male)/House mistress(female) is a member of staff in charge of overall activities in a boarding house. The housemaster/housemistress is responsible for the supervision, management and care of boarders in the boarding house and he/she typically resides on the boarding house premises.      Housemaster/house mistress is also called houseparent, dormitory parent, housefather/housemother. Sometimes when husband and wife share the duty, they are referred to as houseparents. Housemaster- care for male boarders Housemistress- care for female boarders. We shall majorly use the term "Houseparent" in this article.      The houseparent is responsible for duties, ranging from everyday basic maintenance, organizational duties and personal care and monitoring of  the boarders. The major responsibility is to care for the boarders' well-being, he/she accomplish this by guiding, supporting and advising the boarders. Depending on the number of the students in th