No Plan To Use Workers’ Pension Funds Illegally, Federal Gov’t Replies Atiku

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The Federal Government has clarified that it has no plan to illegally access the savings and pensions of Nigerian workers to fund infrastructure projects.

The Minister of Finance and Coordinator of the Economy, Wale Edun, disclosed this on Thursday in response to the reservations of the former Vice President Atiku Abubakar on government’s plan rev up investment in the critical infrastructure sector by unlocking about N20trillion from the nation’s pension funds.

The Finance Minister, in a video released by the ministry on Thursday, maintained that what was discussed at a two-day Federal Executive Council (FEC) meeting this week was a ‘merely information’ with no approval taken yet on the proposal.

Edun, who dismissed the misinformation making the rounds on the subject credited to him, emphasised that the pension industry like most financial industry is heavily regulated and that the government does not have intentions of going beyond bounds to punish workers.

LEADERSHIP earlier reported former Vice President Atiku Abubakar taking to X on Wednesday to condemn the Federal Government’s move as enlisted in FEC’s resolution of Tuesday, May 14 meeting, as a ‘misguided initiative’.

Atiku called out Edun and warned that such a move should be halted immediately as it was illegal and of dangerous consequences to Nigerians.

Minister Edun has, however, dismissed that there were no attempts or considerations to tamper with pension, insurance or any investment funds.

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