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The Securities and Exchange Commission (SEC) has put the total pension assets under management (AuM) at N7.79 billion as at September 2021.

Speaking Wednesday during a webinar, with the theme: “The Imperative of Non-Interest Capital Market for Pension Industry, Director General, Lamido Yugud noted that the non-interest finance segment holds great potential in furthering the development of the capital market and the growth of the nation’s economy, Yuguda said that the pension industry is one of the fastest growing sectors with assets under management of N13 trillion as at the end of September 2021. He added that, of this impressive amount, less than N80 billion is invested in Sukuk, representing a little less than 1 per cent of total pension assets under management. According to him, the development calls for more innovative financial products to deepen Nigeria’s market and sustain the growth in the industry, especially in the non-interest segment. “We strongly believe that the capital market has a leading role to play in this regard by providing a variety of long-term investable products to service the needs of the pension industry as well as other investors with similar focus.