Business
‘Real Estates Attract Low Pension Funds Investment’
Director-General, Pension Commission (PENCOM) Alhaji Muhammad Ahmed, has said that about 8 per cent of pensions assets has been invested in Real Estate.
Ahmed made this known in an interview with newsmen on Sunday in Abuja.
“As at today, only 8 per cent of the pension assets are invested in real estate and these are indeed legacy assets. They were assets that had been invested before at the pension reform took off.
“For now, pension assets can only be invested in intermediary assets; in order words we cannot invest directly on housing development or any other commercial real estate development.’’
Ahmed said the Commission restricted itself to real estate investment trust or mortgage bank securities because it believed that the market was not fully developed.
He said that it would help the Commission to invest sensible aspects of pension assets if the Federal Government implemented the recommendations of the World Bank document for financial system strategy 2020 fully.
He added: “the fixed income market is quite challenging, especially the corporate governance and corporate bonds.
“As at today, only 3 per cent of the pension assets are invested in corporate bonds.’’
Ahmed said that the process and initiative to improve the corporate bond market had been slow, adding that a committee was set up on it, but most of the issues were yet to be solved.
He said though the commission had 35 per cent allocation for corporate bonds, only 3 per cent had been taken up by pensioners.
“We hope that by the time the issues identified in this book are implemented, we may have emerge, a vibrant corporate bond market,’’ he said.
Last Thursday in Abuja, the World Bank launched a book with recommendations to help the achievement of the Nigeria Financial System Strategy 2020.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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