Monday, September 15, 2025
Home Business AGANGA CANVASSES FOR OFFSHORE AND DOLLAR LINKED INVESTMENTS FOR NIGERIAN PENSION FUNDS.

AGANGA CANVASSES FOR OFFSHORE AND DOLLAR LINKED INVESTMENTS FOR NIGERIAN PENSION FUNDS.

AGANGA CANVASSES FOR OFFSHORE AND DOLLAR LINKED INVESTMENTS FOR NIGERIAN PENSION FUNDS
The former Minister  for industry, trade and investment, Olusegun Aganga has  canvassed for Nigerian pension funds inorder  to  able to invest a portion of their assets offshore and in index/inflation linked instruments.
Aganga who spoke at a training organised for board members and directors of pension fund operators in Nigeria which was organized by PenOp and FITC in conjunction with PENCOM said, the devaluation of the naira and rising inflation could lead to an erosion of earnings for the pension funds and subsequently, old age poverty for pensioners and retirees.
He explained that,  the devaluation of the local currency and rising inflation could lead to an erosion of earnings for the pension funds and subsequently, old age poverty for pensioners and retirees.
He emphasized that, the industry needs to get this going as soon as possible so that the industry could protect the gains of the pension reforms and truly provide financial security for retirees.
 At that forum, Aganga reels out  that the directors of pension funds need to work together with the State Governments, the National Executive Council and the Federal Government to ensure that more states get onboard the contributory pension scheme and to ensure that those states already on the scheme remit both employer and employee contributions to the pension fund administrators as and when due.
Adding that, ” it was quite regrettable that a number of states were deducting pension contributions from their employees, but were not remitting it, which he said does not augur well for the future of Nigerian workers and it should be discouraged.”
Aganga, who is also the chairman of Leadway Pension PFA, urged directors to realize their critical positions in shaping policies, guiding directions and setting “the tone” at the top of their organizations.
The Chief Executive Officer of PenOp, Oguche Agudah who organized the  sessions for directors  explained that it is an opportunity for directors of pension fund operators to come together and work towards the growth of the industry.
 Adding that  it’s an opportunity to build camaraderie within the industry to align interests and to engage with each other and the regulator.
RELATED ARTICLES

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA – FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA - FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers   The Federal Competition and Consumer Protection Commission says...

NAICOM, FINTECH ASSOCIATION PARTNER TO DRIVE INSURANCE DIGITALIZATION

  In a move to accelerate the digital transformation of Nigeria’s insurance sector, the National Insurance Commission (NAICOM) has entered into collaboration with the FinTech...

CBN GOVERNOR CARDOSO REAFFIRMS COMMITMENT TO STABILITY, STRONGER BANKS, AND INVESTMENT GROWTH.

 The Governor of the Central Bank of Nigeria (CBN),  Olayemi Cardoso, has restated the Bank’s commitment to sustaining macroeconomic stability, strengthening the banking sector,...

Most Popular

INDIAN BUSINESSMAN, THREE OTHERS ARRESTED OVER N3.9BN TRAMADOL AT LAGOS AIRPORT …AS NDLEA UNCOVERS SKUCHIES FACTORY, NABS COUPLE WITH 19KG DRUGS IN ANAMBRA,...

The National Drug Law Enforcement Agency (NDLEA) has arrested an Indian businessman, Gupta Ravi Kumar, and three Nigerian accomplices over the importation of 2,248,000 pills...

DICAN HONOURS NDLEA BOSS FOR INNOVATIVE FIGHT AGAINST ILLICIT DRUGS.

The Chairman and Chief Executive of National Drug Law Enforcement Agency, (NDLEA) Brigadier General, Mohammed Buba Marwa (rtd) has lay his weight behind the...

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA – FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers

BANKING, FINTECH TOP CONSUMER COMPLAINTS IN NIGERIA - FCCPC REPORT. Commission recovers ₦10 billion for aggrieved customers   The Federal Competition and Consumer Protection Commission says...

NBRDA SIGNS  MEMORANDUM OF AGREEMENT  WITH SHANGHAI HAIQI INDUSTRIAL COMPANY OF CHINA.

  National Biotechnology Research Development Agency (NBRDA) has signed a Memorandum of Agreement (MoA) with Shanghai Haiqi Industrial Company of China to establish Nigeria’s first...

Recent Comments