The craving by the Federal Government to leverage workers’ N20 trillion pension funds, among other sources of funds in the savings industry, to presumably ramp up infrastructure and housing will not augur
The Federal Government will comply with relevant laws guiding the administration of pension funds before tapping into the savings for developmental purposes, the Minister of Finance and Coordinating Minister of the Economy, Wale
Economists and securities experts have reacted angrily to the Federal Government’s plan to deduct N20 trillion from pension funds for infrastructure development, saying government has no business with the investment returns of citizens.
Amid controversy surrounding the management of the pension funds, the National Pension Commission (PENCOM) said pension assets rose from N10.22 trillion in 2019 to N18.36 trillion in December 2023.
Apart from the technical difficulties envisaged in the plan by governors to borrow N17 trillion from the country’s pension fund, the greatest obstacle against them perhaps is their poor reputation to spend
Apart from the technical difficulties envisaged in the plan by governors to borrow N17 trillion from the country’s pension fund, the greatest obstacle against them perhaps is their poor reputation to spend