Section 86: Modes of Investments of Pension Funds.

Subject to guidelines issued by the Commission, pension funds and assets shall be invested in any ofthe following-
(a)
bonds, bills and other securities issued or guaranteed by the Federal Government and the Central Bank of Nigeria ;
(b) bonds, bills and other securities issued by the States and Local Governments;
(c)
bonds, debentures, redeemable preference shares and other debt instruments issued by corporate entities and listed on a Stock Exchange registered under the Investments and Securities Act;
(d) ordinary shares of public limited companies listed on a securities exchange registered under the Investments and Securities Act;
(e) bank deposits and bank securities;
(f)
investment certificates of closed-end investment fund or hybridinvestment funds listed on a securities exchange registered under the Investments and Securities Act with good track records of earning;
(g)
units sold by open-end investment funds or specialist openend investment funds registered under the Investments and Securities Act;
(h) real estate development investments; or
(i)
specialist investment funds and such other financial instruments as the Commission may, from time to time, approve.