PFAs’ Investment In Banks Drops By N60bn In 1month

The tenor, however, hovers between 30 and 360 days, depending on the choice of the firm doing the placement.

The fixed deposit, according to findings, is giving better interest income to pension fund operators, as they get as high as 8, 9 or 10 per cent interest or more within 90, 120, 150, 180 and 360 days, depending on the terms of agreement, meaning that, there is possibility they can turn over such placement two, three to four times or more in a year, unlike bonds that is stereotype and has a longer cycle.

LEADERSHIP investigation shows that, this was partly responsible for the growth of the pension assets to N14.99 trillion as at December, 2022, as investment income, of which bank placements contributed the highest, was one of the main drivers of the assets.

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