The Director-General, National Pension Commission, Mrs Chinelo Amazu has said the commission is committed to work with the Nigerian Stock Exchange to grow the nation’s capital market
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According to her, PenCom would deepen its partnership with the NSE to put the necessary measure in place in order to give institutional investors the needed comfort to remain in the equities market on a long term basis.
Addressing stockbrokers at the Bell ringing ceremony in Lagos, the PenCom boss said PenCom visit to the Exchange would help to strengthen the relationship with the stockbrokers and NSE.
She added that the Commission required an enabling environment to participate maximally in its effort to help move the market forward. She stated that PenCom investment in the Nigeria Capital Market is institutional investment which is for long term period and it is not port folio investors, adding that it was the duty of the Commission to ensure that RSA remitted funds deducted from the workers’ salaries.
“The reform that has been on going in the NSE is the kind of thing that PenCom is looking for because we are institutional investors and because of the nature of funds we hold which idly belonging to the retirement service account holders, and the primary mandate of PenCom is to establish and ensure that liabilities and pension retirement benefits are paid as at when due, this is the crux of all investments we do.
“Now, the relationship we are establishing with the NSE is such that will enable us meet our initial mandate, while also playing an active part in the local development of the NSE because investment in equities for institutional investors is long term in nature. We are not portfolio investors, we are in for long term and I am happy that the management of the NSE is creating that platform to enable us fulfil that mandate. She said that PenCom visit to the Exchange was to enable us interact and planned on how to work together to move the market forward.
