PFAs invest N1.49 trn in Treasury Bills

The Pension Fund Administrators (PFAs) in the country have invested N1.49 trillion in Treasury Bills.

The monthly report released by the National Pension Commission (PenCom) on Sunday in Abuja by Mr Peter Aghahowa, the commission’s spokesman made the disclosure.

The commission also disclosed that the PFAs invested N4.22 trillion in Federal Government’s bonds, Federal Mortgage Bank of Nigeria (FMBN) got N10.91 billion; Sukuk bonds, N53.15 billion; and green bonds, N6.96 billion.

“State government securities gulped N154.43 billion, while corporate bonds was N400.45 billion with corporate infrastructure bonds amounting to N7.33 billion, even as banks gulped N849.09 billion.

“Others include commercial papers, N116.76 billion and real estate properties, N226.64 billion and supranational bonds, N6.67 billion.

“Open and close end funds, N12.18 billion; mutual funds, N21.29 billion; private equity fund N38.57 billion; infrastructure fund, N16.07 billion; other assets N24.56 billion and Reits, N9.10 billion,” the commission said. (NAN) The Federal Government has lauded the complementary roles being played by the largest indigenous conglomerate, the Dangote Industries Limited (DIL) in the transformation of Nigeria’s economy, saying the company deserved to be encouraged.

The Vice-President, Prof. Yemi Osinbajo who gave the commendation yesterday during the opening of the 24th Nigeria Economic Summit Group (NESG) in Abuja said the Company had proved a worthy partner in government’s effort at diversifying and revitalizing the economy especially through its backward integration in Cement and Sugar.

He stated that the government is very proud of the management of Dangote Industries Limited and aligned itself with the Dangote brand as it adds value to Nigeria’s economy.”

“We align with Dangote as a brand. Its uniqueness, acceptability and popularity is second to none and the brand has shored up activities in the nation’s industrial sector”, Osinbajo pointed out.

The Vice-President who led the leadership of the NESG and top government officials to the Dangote booth at the NESG Summit said he could confirm that Dangote is a value adding entity. “The management has been up and doing, everyone knows Dangote products’’, the VP said.