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Home Business & Finance

National Pension Commission Lifts Suspension on PFA Investments in Commercial Papers

Nnaemeka OkwarabyNnaemeka Okwara
December 3, 2024
in Business & Finance
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National Pension Commission Lifts Suspension on PFA Investments in Commercial Papers
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The National Pension Commission (PenCom) has  lifted its suspension on investments in commercial papers by Licensed Pension Fund Administrators (LPFAs) when non-bank capital market operators serve as Issuing and Paying Agents (IPAs).

This decision was made after the Securities and Exchange Commission (SEC) resolved regulatory issues about the role of non-bank operators in commercial paper transactions.

The suspension was originally put in place because there were no clear rules about how non-bank IPAs should be involved in issuing commercial papers.

However, since the SEC has created draft rules and suggested changes to Rule 8 (Exemptions), PenCom has decided to lift the ban.

On December 3, 2024, PenCom announced in a circular that the SEC has created new draft rules and suggested changes to oversee the issuance of commercial papers by companies it regulates. The SEC’s actions aim to address PenCom’s worries about non-bank financial institutions playing a role in commercial paper transactions.

As a result, PenCom has removed its ban on LPFAs investing in commercial papers when non-bank capital market operators act as financial intermediaries. However, PenCom stressed that LPFAs must thoroughly check all legal and financial aspects of the Prospectus/Offer Documents for commercial papers before making any investments.

This change is expected to make it easier for companies to raise capital in Nigeria’s financial markets, while still protecting the safety and stability of pension fund assets.

Tags: Commercialfederal characterInvestmentNational Pension Commission Lifts Suspension on PFA Investments in Commercial PapersNewspensionPFAsuspension
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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