THERE are expectations that yields will lower as Open Market Operation (OMO) and Treasury bills maturities worth ?370.0billion and ?104.9million would hit the system.
Dealers say Treasury yields don’t just influence how much the government pays to borrow and how much investors earn by buying government bonds. They also influence the interest rates that individuals and businesses pay to borrow money to buy real estate, vehicles, and equipment. Treasury yields also tell how investors feel about the economy. The higher the yields on 10-, 20- and 30-year Treasuries, the better the economic outlook.
Meanwhile, the National Pension Commission (PenCom), has disclosed investment of about N7 trillion of the country’s pension fund in Federal Government Bonds and Treasury Bills.
Currently, Nigerian pension contributions were valued at N11 trillion in the second quarter of 2020, out of which over N7 trillion is invested in FGN Securities such as FGN Bonds and Treasury bills.
The agency also said that the total value of pension fund assets based on unaudited valuation reports grew from N10.33 trillion as at March 2020 to N11.09 trillion as at June, 2020, representing a growth of 7.36 per cent.
The growth was mainly due to market valuation of quoted equities.
There are 9, 097, 803 contributors in Nigeria up 41,074 from the first quarter of 2020.
The growth in the industry membership was driven by the Retirement Savings Account (RSA) Scheme, which had an increase of 41,147.
This was confirmed by the Pension Commission in its second quarter report published on its website.
According to the data, about 4,688 Retirement Savings Account (RSA) holders were disengaged from work but unable to secure another job within 4 months of disengagement during the second quarter.
The payment was made to former employees in the Public and Private sectors. The number of private-sector RSA holders was a whopping 4,263.
A total of N4.31 billion was approved for payment to 8,221 RSA holders in the first quarter.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
In the finest spirit of democracy and response to the people’s yearnings, the Inspector-General of Police Mohammed Adamu has today, 11th October, 2020, dissolved the Special Anti-Robbery Squad (SARS) across the 36 State Police Commands and the Federal Capital Territory (FCT) where they hitherto existed.
The Independent National Electoral Commission has declared Governor Rotimi Akeredolu as the winner of the 2020 Ondo State Governorship Election.
A document titled “Withdrawal from Ondo 2020 gubernatorial race” making the rounds that Mr Agboola Ajayi, the deputy governor and candidate of the Zenith Labour Party(ZLP) in the ongoing Ondo gubernatorial election has stepped down is fake and should be disregarded.
Pandemonium erupted in Akure on Saturday morning, as gun-wielding men suspected to be political thugs invaded a polling unit located at unit 4, ward 4, Ijomu/Obanla, in Akure South Local Government Area of the state.