LAGOS — Pension fund administrators' investments in equities and federal government securities reached N24.12 trillion in August 2026, up from N20.29 trillion in December 2025, according to data from the National Pension Commission. The two asset classes account for about 76 per cent of total pension assets of N31.80 trillion. Equity holdings rose 59.8 per cent to N6.32 trillion as the stock market rallied, while holdings of government securities rose to N17.8 trillion. Aruna Kebira of Globalview Capital noted that PenCom rules limit how much pension funds can invest in volatile assets.