The Che National Pension Commission has said it recovered N24.8 billion of funds unremitted by employers in the third quarter of 2023.
According to Daily Post, Chief Executive Officer of Pension Funds Operators’ Association of Nigeria, Oguche Agudah, disclosed this at a media parley with the theme, ‘At the dawn of 20 years of pension reform, what are the gains?’ on Friday in Lagos
Agudah stated that PenCom recovered N23.3 billion of such funds in the third quarter of 2022, while it recovered N2.23 billion in the third quarter of 2021.
He noted also that the pensions industry recorded an Asset under Management of N17.35 trillion in the second quarter of 2023.
It made investments of N349.97 billion in infrastructure in the second quarter of 2023, up from the N333.02 billion invested in the corresponding quarter of 2022, Agudah added.
Agudah also said Investments in infrastructure represented 2.02 per cent of total investments made in the second quarter of 2023.
He said the industry also invested N1.54 trillion in the equities market in the third quarter of 2023.
The CEO of Pension Funds pointed out that this represented 8.88 per cent of total investments, as against the N964.84 billion invested in the corresponding quarter of 2022.
He said the pension industry would focus more on micro-pensions and revise its investment guidelines in 2024 when it celebrates the 20th year of pension reforms.
