Daily Trust

Ex­perts to prof­fer in­vest­ment for pen­sion

- By Chris Agabi Business · Nigeria News · Finance · Investing · Insurance · Society · Lagos · Nigeria · Central Bank of Nigeria · Central Bank of Nigeria (CBN) · Social Security

Fol­low­ing dis­rup­tions in the in­vest­ment flow due to COVID-19, ex­perts in the fi­nan­cial ser­vice sec­tor will be prof­fer­ing ways the Nige­rian in­sur­ance and pen­sion sec­tors can at­tract in­vest­ments.

The ex­perts will also speak on how pen­sion fund op­er­a­tors can grow their in­vest­ment port­fo­lios.

The ex­perts and stake­hold­ers will be speak­ing at the 2020 An­nual Con­fer­ence of the Na­tional As­so­ci­a­tion of In­sur­ance and Pen­sion Cor­re­spon­dents (NAIPCO) to be held Novem­ber 4, 2020, in La­gos.

The theme for the con­fer­ence is: “Pro­mot­ing Bank­able In­vest­ments Port­fo­lio for In­sur­ance and Pen­sion Sec­tors.”

Chair­man of the oc­ca­sion is the Chair­man, Nige­ria So­cial In­sur­ance Trust Fund (NSITF), Mr. Austin Ena­jemo-Isire, while the Di­rec­tor-Gen­eral, La­gos Cham­ber of Com­merce and In­dus­try (LCCI), Dr. Muda Yusuf, is the Key­note Speaker, even as the Chair­man, Mu­tual Ben­e­fits As­sur­ance Plc, Dr. Akin Ogun­biyi will be the Special Guest of Hon­our and Chief Launcher of the new NAIPCO web­site.

The NAIPCO Pres­i­dent, Mr. Chuks Udo Okonta, said the or­gan­ised pri­vate sec­tor has con­sis­tently lamented low fund­ing for man­u­fac­tur­ers as the in­vest­ment com­mu­nity has ac­cused OPSN of lack of bank­able in­vest­ment projects in which pen­sion and in­sur­ance com­pa­nies can in­vest in, de­spite the two sec­tors hav­ing in excess of N11 tril­lion funds that could be in­vested in the econ­omy.

For the pen­sion sec­tor, he stated that the theme is also apt as PFAs have lim­ited in­vest­ment out­lets with the ban on in­vest­ment in trea­sury bills by the Cen­tral Bank of Nige­ria (CBN) as well as, the cur­rent low yield on bonds, the main­stay in­vest­ment in­stru­ment of the pen­sion in­dus­try.

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