Pension Fund Illustration


By Ngozi Onyeakusi—In a bid to  reduce its external debts by generating funds through internal sources to finance its projects, Federal Government is planning to finance infrastructure projects with banking and pension monies.

The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele  who disclosed this the Bankers’ Retreat in Lagos said government plans to raise the N15tn funding for the Infrastructure Corporation of Nigeria Limited. “We have already said that N1tn out of the N15tn would be equity, being contributed by the CBN, African Finance Corporation, and the Nigerian Sovereign Investment Authority. The remaining N14tn would be accessed from the debt market. “And I must say that we are happy here that these are substantially going to be naira funding. The banks have large pool of funds, the pension administrators have large pool of funds and we are reasonably optimistic that more than 50 per cent, running to two-third of this money is going to be raised locally.