Saturday, August 9, 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

NEPZA, FCT AGREE TO CREATE WORLD-CLASS FTZ ENVIRONMENT .

The Nigeria Export Processing Zones Authority (NEPZA) says it  has stepped in to resolve the dispute between the Federal Capital Territory Administration and the...

NSDC boss URGES FARMERS, INVESTORS TO  INVEST IN LOCAL SUGAR PRODUCTION.

‎The Executive Secretary of the National Sugar Development Council (NSDC), Kamar Bakrin, has called on members of the All Farmers Association of Nigeria (AFAN)...

TINUBU EXTENDS CUSTOMS CG’S TENURE.

President Bola Tinubu has approved a one-year tenure extension for the Comptroller-General of the Nigeria Customs Service,  Bashir Adewale Adeniyi. Adeniyi was due to step...

Most Popular

NEPZA, FCT AGREE TO CREATE WORLD-CLASS FTZ ENVIRONMENT .

The Nigeria Export Processing Zones Authority (NEPZA) says it  has stepped in to resolve the dispute between the Federal Capital Territory Administration and the...

WAEC GLITCH: MINISTRY OF EDUCATION CONFIRMS FIX, MOVES TO SAFEGUARD EXAM INTEGRITY.

WAEC GLITCH: MINISTRY OF EDUCATION CONFIRMS FIX, MOVES TO SAFEGUARD EXAM INTEGRIT The Federal Ministry of Education has confirmed that the technical glitch affecting the...

UNDERAGE ADMISSIONS: JAMB SETS STRICT NEW RULES FOR EXCEPTIONAL CANDIDATES.

  The Joint Admissions and Matriculation Board, JAMB, has introduced new rules to screen exceptional candidates under 16 years old seeking university admission in the...

NATIP WILL BOOST AGRICULTURAL ECOSYSTEM, EMPOWER YOUTH AND WOMEN-KYARI

  The Minister of Agriculture and Food Security, Senator Abubakar Kyari, has reaffirmed the Federal Government’s commitment to transforming Nigeria’s agricultural sector through the implementation...

Recent Comments