The Acting Director General of the National Pensions Commission (PenCom), Mrs. Aisha Dahir-Umar, on Thursday, revealed that the net assets value of the Nigerian pensions industry, under the contributory pension fund, has risen to about N7.779 trillion as at February 28, 2018. The figure, she said, represents an increase of N270 billion from the December 31, 2017 figure of N7.52 trillion.

Speaking at the opening of the 2018 Journalists’ Workshop organised by PenCom in Uyo, Dahir-Umar, who was represented by the Company Secretary and Legal Adviser, Mohammed Sani Mohammed, also revealed that the number of contributors has hit 7.9 million as at the same time.

The figure grew by 390,000 from 7.5 million as at March 31, 2017 to 7.89 million by December 31, 2017.

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According to her, the commission was intensifying efforts at ensuring the provision of necessary infrastructure for the launch of the micro pension scheme in line with its strategic objective of expanding coverage of the Contributory Pension Scheme (CPS) to capture the under-served sectors.

He also revealed that PenCom initiated the pension enhancement programme to further boost the monthly pension of retirees in the CPS.