An update of activities of the National Pension Commission A Presentation to the: 2016 First Capital Market Committee Meeting NATIONAL PENSION COMMISSION ABUJA, NIGERIA APRIL 2016

2 Outline 1. Summary of Pension Fund Assets 2. Pension Fund Assets as at 29 February Update on recent initiatives of the Commission 4. Enquiries

3 Summary of Pension Fund Assets Asset Class 31-Dec-1531-Jan-1629-Feb-16 N'Billion% % % Ordinary Shares % % % FGN Securities: FGN Bonds3, %3, %3, % Treasury Bills % % % State Govt. Bonds % % % Corporate Debt Securities % % % Supranational Bonds12.810%12.930%12.350% Money Market Instruments % % % Open/Close-End Funds20.720%19.780%19.880% Private Equity Fund24.550%16.130%18.370% Real Estate Properties % % % Infrastructure Funds1.360%1.340%1.340% Cash & Other Assets32.651%26.381%22.870% Total Pension Fund Assets5, %5, %5, %

4 Pension Fund assets as at 29 February 2016  As at 29 February 2016, the total value of the pension industry assets decreased by ₦ Billion (0.22%), as it reduced from ₦ 5.30 Trillion on 31 December, 2015, to ₦ 5.29 Trillion as at 29 February, The net decrease in the value of assets was mainly due to the market valuation of equity investments, despite continuing equity investments by the PFAs.

5 Update on initiatives of the Commission  Revision of the Regulation on Investment of Pension Fund Assets (Including the Multi-fund Structure)  Development of Guidelines on Withdrawals from RSA Towards Equity Contribution for Residential Mortgage  Supervisory Collaboration Agreement with FMDQ

6 Update on initiatives of the Commission  Revision of the Regulation on Investment of Pension Fund Assets (Including the Multi-fund Structure):  The draft amended Regulations had been forwarded to Mr. President for approval, pending ratification when the Commission’s Board is reconstituted.

7 Update on initiatives of the Commission  Development of Guidelines on Withdrawals from RSA towards Equity Contribution for Residential Mortgage: The 2 nd Technical Session to finalise the Guidelines was held with relevant stakeholders on 16 March, The updated draft Guidelines will be forwarded to Mr. President for approval, after review by the Commission’s Executive Committee.

8 Update on initiatives of the Commission  Supervisory Collaboration Agreement with FMDQ:  A Supervisory Collaboration Agreement with FMDQ OTC Plc had been signed on 7 April  This would enhance the regulatory oversight of the Commission on all fixed income transactions of Pension Funds, in order to ensure transparency and fair dealing.

National Pension Commission Plot 174, Adetokunbo Ademola Crescent Wuse II, Abuja Website: Enquiries: