How COVID-19 is impacting Nigeria’s pensions industry
Monthly data from Nigeria’s pensions industry shows that the country’s total pension fund assets stood at 10.6 trillion naira as at April this year with Federal Government Securities weighing 66.25 per cent of the total pension fund assets. The data also showed that new retirement savings account grew 85 per cent less in April 2020 compared to the same period in 2019. Pabina Yinkere, Chief Investment Officer at Sigma Pensions joins CNBC Africa for more.
FG considers treating COVID-19 patients at home, Joe Biden denies sexual assault allegation and more
Here is why you should pick a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on the newsstands on Saturday.
GE pension benefits freeze may cut deficit up to $8 Billion
General Electric Co. is freezing pension benefits for about 20,000 U.S. employees in a move that could help trim $5 billion to $8 billion from the company’s pension shortfall. Bloomberg Opinion columnist Brooke Sutherland has the details on "Bloomberg Daybreak: Americas." Her opinions are her own.
Nigeria’s micro pension plan explained
Nigeria launched the micro pension plan late last month as the government aims to extend pension services to the informal sector. Niyi Falade, CEO of Crusader Sterling Pensions joins CNBC Africa to discuss the prospect of Nigeria’s micro-pension scheme.
Unbundling Nigeria’s new pension guidelines
Nigeria’s pension’s regulator PENCOM introduced the multi-fund structure in its new investment guideline earlier this month in a bid to align the age and risk profiles of pension contributors.
Former Mexico state governor missing amid corruption scandal
The governor of Veracruz on Mexico's eastern coast is allegedly on the run after being accused of corruption and having links to organised crime.