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CSE implements new OTC Platform to conduct REPO Transactions on Debt Securities
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CSE implements a new OTC Platform to conduct REPO Transactions on Debt Securities - Adaderana Biz English
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Recently released report on pension fund assets by National Pension Commission (NPC) showed that the total value of pension assets rose month on month (m-o-m) by 0.41% to N12.39 trillion in April 2021 from N12.34 trillion printed in March 2021.
According to the report, most of the pension fund assets were invested in FGN Securities.
However, its share of the total assets
moderated to 67.15% (or N8.32 trillion) in the month under review, from a 68.96% (or N8.51 trillion) recorded in April 2021 as pension managers stood on the side lines to see where the rising interest rates in the money and bond markets would halt before investing more funds.
Nigeria Considers Reduction of Costs, Merge MDAs amid Shortfall in Revenue.
In the just concluded week, the Federal
Government as part of measures to reduce cost of governance amid its dwindling revenue, announced plans to reduce payrolls, cut down recurring project costs and merge some of its Ministries, Departments and Agencies (MDAs).
According to the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, the President stated that the Salaries Committee should work together with the Head of Service to review salaries and pay roll of federal institutions in order to step down on cost. She stated that FG would also review the mandates of some of its Agencies and Ministries with similar functions
According to the report, most of the pension fund assets were invested in FGN Securities.
However, its share of the total assets moderated to 65.92% (or N8.11 trillion) in the month under review, from a 70.96% (or N7.40 trillion) recorded in 2020, as pension managers moved funds away from T-bills given the collapse of the yields, particularly in the money market, to record low single-digits amid CBN’s accomodative stance to cushion the effect of COVID-19 pandemic on the economy. As Pension Fund Administrators (PFAs) shifted focus from investment in T-bills, we saw investment preference drifting towards Local Money Market Securities (LMMS) as total funds invested in this space rose y-o-y by 39.61% to N1.65 trillion in January 2021 (lifting its share of the total assets to 13.40%), from N1.18 trillion in January 2020 (or 11.31% of total assets).
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