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Federal government borrowed N6.16 trillion from pension board – NPC

January 16, 2019
in Business News, Latest Nigeria News, Nigeria News
Federal government borrowed N6.16 trillion from pension board – NPC
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The Federal government borrowed N6.16 trillion from pension fund last November out of the total pension assets N8.49 trillion.

Data from the pension commission reveals that 72.5 per cent of the fund was borrowed by the Federal Government and invested in the FGN securities.

The Pension Fund Administrators also invested 6.87 per cent of the fund in domestic ordinary shares, while 0.71 percent was invested in foreign ordinary shares.

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