• Thursday, March 28, 2024
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BusinessDay

PFAs can now invest in Lagos State N500b debt issuance programme- PENCOM

PenCom

The National Pension Commission (PENCOM) has granted a reprieve to the Lagos State government by lifting the suspension order it earlier placed on the inclusion of the Lagos State N500 billion debt Issuance programme as an investible instrument for pension funds.

This follows the commitment from the Lagos State Government to ensure compliance with the minimum requirement for inclusion of State Bonds as investible instruments in the pension industry,

PENCOM in a letter date dated 10th January 2020 and seen by BusinessDay, said henceforth, Pension Fund Administrators PFAs may wish to invest in the current N100billion issuance under the Lagos State N500billion Debt programme, subject to their risk-reward appetite.

Details coming