A total of N160 billion out of the N5.1 trillion pension fund has been invested in four States Bonds towards infrastructure development as at September 2015.
The States include Lagos, Delta, Osun and Niger State.
This was made known in a report made available to The Nation by the National Pension Commission (PenCom).
According to the report, these four States are able to benefit from the pension fund because they have implemented the Contributory Pension Scheme (CPS).
The report stated that pension assets totaling N160 billion was invested in State Bonds towards infrastructure development.
It however showed that not all States have adopted the CPS.
It read: “11 States and the FCT have commenced implementation while 11 States have enacted pension laws on CPS but are yet to commence implementation in the period under review.
“Three States have enacted Laws, which need to be reviewed as they vary substantially from the provisions of the pension Reform Act (PRA) 2014 while 12 States are at the bill stage.
“Aside from the four states that benefitted from the fund in the period under review, other States that have implemented the CPS are Ogun, Jigawa, Zamfara, Rivers, Kaduna, Anambra, Enugu and FCT.
“States that have enacted pension laws but are yet to commence implementation are Ekiti, Edo, Gombe, Ondo, Nassarawa, Kebbi, Kogi, Sokoto, Oyo, and Taraba while those who have enacted laws but need to be reviewed are Adamawa, Bayelsa and Kano”, the report stated.
Meanwhile, Chairman of Premium Pension Limited, Aliyu Dikko adviced State Governors to comply with the CPS in other to access it for infrastructure.
He noted that it is in their own interest to comply because once they comply, a lot of opportunities are opened to them.