Sunday, July 6, 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

NO BREACH OF CIVIL SERVICE RULES IN FORTHCOMING NEPC PROMOTION EXAMS – NEPC

  Nigeria Export Promotion Council (NEPC) has refutes the Sahara Reporters report  regarding the forthcoming promotion examinations at the Nigeria Export Promotion Council (NEPC). In the...

NAICOM HANDS OVER NEW LICENSES TO SANLAMALLIANZ LIFE AND GENERAL INSURANCE.

  The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. in a brief ceremony held in...

KADUNA STATE GOVERNMENT AND SMEDAN SIGN ₦1 BILLION MOU TO BOOST MSME DEVELOPMENT.

  In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed...

Most Popular

NO BREACH OF CIVIL SERVICE RULES IN FORTHCOMING NEPC PROMOTION EXAMS – NEPC

  Nigeria Export Promotion Council (NEPC) has refutes the Sahara Reporters report  regarding the forthcoming promotion examinations at the Nigeria Export Promotion Council (NEPC). In the...

NAICOM HANDS OVER NEW LICENSES TO SANLAMALLIANZ LIFE AND GENERAL INSURANCE.

  The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. in a brief ceremony held in...

KADUNA STATE GOVERNMENT AND SMEDAN SIGN ₦1 BILLION MOU TO BOOST MSME DEVELOPMENT.

  In a landmark move to drive inclusive economic growth and revitalization of the entrepreneurial ecosystem in Kaduna State, the Kaduna State Government has signed...

NIGERIA, SAUDI ARABIA CUSTOMS SIGN HISTORIC COOPERATION AGREEMENT AT WCO COUNCIL SESSION IN BRUSSELS.

In a major diplomatic stride in alignment with Customs-to-Customs cooperation, the Nigeria Customs Service (NCS) and the Zakat, Tax and Customs Authority of the...

Recent Comments