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Pension Fund Investment In Securities Hit N9.9 trn

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2 years ago

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The investment of Pension Fund in Federal Government securities (debt instruments) rose by 16.5 per cent, year-on-year to hit the sum of N9.9 trillion in February.
According to data, this was caused by the high interest rate regime prompted by the inflation fighting measures of the Central Bank of Nigeria (CBN).
This was contained in the latest data released by the National Pensions Commission (PenCom), which has shown a steady rise in Pensions Funds invested in the Federal Government Security.
Since June last year, the CBN has raised the Monetary Policy Rate (MPR) five times and by 650 basis points to18 per cent in a bid to curtail steady rise in the inflation rate to 21.9 per cent in February.
The MPR is the benchmark for determining the interest rate charged by banks, which also influences the yields on fixed income securities.
According to the data, hike in MPR prompted a general rise in interest rates with yields on one month deposits rising to 7.56 per cent in February from 3.57 per cent in May last year.
Also, the interest rate on the Federal Government’s 3-years Savings Bonds rose to 11.04 per cent in February from 8.93 per cent in May last year.
In a bid to take advantage of this development, Pension Funds increased investment in government debt instruments or securities by 16.5 per cent year-on-year to N9.9 trillion in February from N8.5 trillion it was in February 2022.
The Federal Government securities include FGN Bonds, Treasury Bills, Agency Bonds, Sukuk, and Green Bonds.
The latest data from PenCom also showed a steady rise in pension fund investment in FG securities since the first quarter, of 2022 when it fell quarter-on-quarter, by 3.1 per cent.
In Second quarter of 2022, pension fund investment increased to N9.007 trillion representing a quarter-on-quarter growth of 5.9 per cent; and the investment value increased further by 2.1 per cent to N9.192 trillion in 3rd quarter, while in the 4th quarter, the investment value rose by 2.7% to N9.644 trillion.
Though pension fund investment in government securities fell marginally by 1.0 per cent, month-on-month, (MoM), it however rose by 4.2 per cent, to N9.8 trillion in February.

By: Corlins Walter

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Kenyan Runners Dominate Berlin Marathons

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5 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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5 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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5 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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