Oguche Agudah, Chief Executive Officer of PenOp, disclosed this to the News Agency of Nigeria (NAN) on the sidelines of a virtual training for members of the National Association of Insurance and Pension Correspondents in Lagos.
Mr Agudah spoke in reaction to a decline of pension assets by N51.30 billion in February.
He attributed the decline in pension fund assets of N51.30 billion mainly to the depreciation in the prices of fixed income securities.
The PenOp CEO, however, explained that the loss in percentage is minimal when subtracted from the N12.29 trillion total pension asset.
“If you examine the N51.30 billion depreciation from the N12.29 trillion pension funds in January 2021, you will notice it is not even up to 0.01 per cent, so the percentage loss here is minimal.
“However, we know there are concerns about the decline in the pension value of assets .
“The honest truth is that pension funds need to invest more in other assets classes…