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13 September 2021

Stanbic IBTC Reveals Plan to Protect Pension Funds from Falling Naira Value

Nigeria’s biggest pension fund administrator Stanbic IBTC Pension Managers Limited yesterday disclosed that a framework would soon be put in place to protect and grow pension funds by investing a portion of these funds in dollar-denominated assets.

Nigeria’s biggest pension fund administrator Stanbic IBTC Pension Managers Limited yesterday disclosed that a framework would soon be put in place to protect and grow pension funds by investing a portion of these funds in dollar-denominated assets. The administrator explained that the changes would address the concern of pension contributors regarding the devaluation of their pension account due to the erosion of the value of the Naira in the foreign exchange market and domestic price inflation. - Thisday online