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PENCOM’s Asset Base Hits Over Four Trillion

Acting Director General, PENCOM, Chinelo Anohu Amazu
Acting Director General, PENCOM, Chinelo Anohu Amazu
The National Pension Commission (PENCOM) now has an asset base of over N4 trillion.

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Acting Director General PENCOM Mrs. Chinelo Anohu Amazu made the revelation when she appeared before the National Conference Committee on Public Service.

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She said that PENCOM has grown from a deficit of N2 trillion into an asset of over N4 trillion.She suggested that money meant for the payment of pension should be released directly to the pensioners instead of lodgement in an account which is prone to abuse.

The next focus of investment apart from bonds, according to her, is the Real Estate and infrastructure. She appealed to the committee to beam its searchlight on non-remittance of contributions of workers by their employers.
Head of Service, Bukar Goni Aji, who also appeared before the committee spoke on the reforms in the civil service and staff welfare.

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Minister of Tourism, Chief Edem Duke, represented by some directors in the ministry briefed the Committee on Trade and Investment on tourism potentials and development in the country. The committee considered the reports of some of its sub-committees on Development Financing and Planning in Nigeria, Manufacturing, Value Addition and Employment Creation as well as Trade and Investment.

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