Pension Assets Hit ₦30.94 Trillion
Nigeria’s Contributory Pension Scheme assets under management climbed to ₦30.94 trillion as of 30 April 2026, up from ₦29.52 trillion in March — a month-on-month gain of ₦1.42 trillion (4.81%). The standout driver was equities, which surged 19.26% in the month as pension funds rode the strong NGX rally, with their share of total assets jumping from 14.41% to over 21%. Money market instruments grew more modestly, suggesting PFAs are still holding liquidity buffers even as risk appetite for stocks improves.
NGX Volatility Tests Investor Nerves
Nigerian equities have had a turbulent few weeks. After closing May at a record 61% year-to-date gain, the All-Share Index shed over ₦4 trillion in the first week of June, dragging year-to-date returns down to roughly 55% before a partial recovery to about 57% by mid-month. Mid-June trading has been choppy, with sessions split between modest gains driven by names like MTNN and Airtel Africa and broader profit-taking across banking and industrial stocks. Analysts frame this as healthy rotation after a stretched rally rather than a loss of confidence, though the swings underline how sensitive the market remains to global rate signals and local liquidity conditions.
CBN Holds Rates, Naira Stays in Consolidation Mode
The CBN’s Monetary Policy Committee kept the MPR at 26.5%, alongside an unchanged CRR (45% for deposit money banks) and liquidity ratio (75%), as it prioritises taming election-related liquidity risk over near-term easing. Governor Olayemi Cardoso reaffirmed that the apex bank will not return to artificial FX interventions, leaning instead on the revised Foreign Exchange Manual to deepen market transparency. The naira has been trading in a relatively tight band, though commercial FX turnover has dipped, a sign the market’s structural depth is still being tested even as headline stability holds.
Pensioners' Welfare Remains a Flashpoint
Away from the markets, pensioner welfare continues to dominate advocacy headlines. The Nigeria Union of Pensioners has renewed pressure on state and federal governments over unpaid gratuities — some outstanding for over 15 years — while welcoming isolated palliative gestures like Oyo State’s ₦10,000 monthly stipend for retirees. Meanwhile, PenCom and the Head of Civil Service are progressing plans for a gratuity scheme for treasury-funded federal workers, alongside an online verification exercise to settle accrued pension liabilities — both signals that pension reform conversations are moving from the regulatory level into actual implementation.