The National Pension Commission (PenCom) has reported that Nigeria’s pension fund assets under the Contributory Pension Scheme (CPS) have surged to N20.79 trillion as of July 2024.
Speaking at the Quarterly Consultative Forum for states and the Federal Capital Territory pension bureaus/boards/commissions in Lagos, PenCom’s Acting Director-General, Omolola Oloworaran, provided updates on the growth of pension assets and remittances.
“Pension fund assets under the CPS continue to grow, with total Assets under Management soaring to N20.79 trillion as of July 2024,” Oloworaran said during her presentation.
She further highlighted the steady contributions from states, noting that over N236.7 billion was remitted between January 2020 and the second quarter of 2024.
“We are pleased to note the steady remittance of contributions by states,” Oloworaran stated, emphasizing the positive trend in state participation in the scheme.
Additionally, 25 states, including the FCT, have already enacted pension laws under the CPS, while six others are still in the process of passing relevant bills.
