Financial Intermediation In Housing: Periscoping The Contributory Pension Fund

ONAKOYA, B.O and ADEDOKUN, A.M (2015) Financial Intermediation In Housing: Periscoping The Contributory Pension Fund. International Journal of Socioeconomic Development and Strategic Studies (IJOSEDASS), 7 (1). pp. 175-195.

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Nigeria’s financial system, often dominated by oligopolistic commercial banks interested in short-term lending, lacks the muscle for financial intermediation in housing. This paper does not only place this inability on endogenous elements and inhibiting policy-driving exogenous factors outside the entire banking system but also, recognises the financial weakness of the Nigerian fiduciaries which hardly lends them to this intermediation. With the use of the Comprehensive Contents Analysis (CCA) materials were sourced from relevant legislations, learned papers, bodies and stakeholder-institutions. This was complemented with reports and write-ups in the print and electronic media. It expresses concern on the volatility and vulnerability of PenCom’s favoured investment instruments in the domestic and global economic and financial environments yet to recover from the effects of the 2008 global financial crisis and juxtaposes this precariousness and the investment-friendly characteristics of investment in housing. It therefore posits that unlike other fiduciaries, the Contributory Pension Scheme has the requisite financial wherewithal for housing. It finally concludes that PenCom should not only be disposed to investment in housing but more importantly, channel a reasonably large chunk of the huge and idle funds at its disposal to this important social sector on account of their shared characteristics, long-term gestation period being paramount.

Item Type: Article
Subjects: T Technology > T Technology (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Daniel Kumoye
Date Deposited: 30 Jun 2020 14:48
Last Modified: 30 Jun 2020 14:48

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