Fears that Nigeria’s N9.5 trillion pension fund assets may be eroded by inflation in the nearest future is gathering momentum. The Nation learnt that the fund’s value has been eroded by 100 per cent between 2012 and 2019.
This is being envisaged by experts considering the depreciation of the Naira in recent times.
This has, however, brought to the front burner the need for the regulatory authority, the National Pension Commission (PenCom), to allow more investment of pension funds outside Nigeria.
Pioneer Director-General of PenCom, Muhammad Ahmad while speaking on ‘’The Pension Industry – The Way Forward” during a retreat for National Assembly members on pension in Uyo, Akwa Ibom State, drew the attention of stakeholders to the dangers ahead.