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 former Vice President Atiku Abubakar on government’s plan to rev up investment in the critical infrastructure sector by unlocking about N20 trillion from the nation’s pension funds.
In a video released by the ministry on Thursday, the Finance Minister maintained that what was discussed at a two-day Federal Executive Council (FEC) meeting this week was ‘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.
On Wednesday, former Vice President Atiku Abubakar condemned the Federal Government’s action detailed in the FEC’s resolution from their Tuesday, 14 May meeting, calling it a ‘misguided initiative’ in a post on X.
Atiku called out Edun and warned that such a move should be halted immediately as it was illegal and of dangerous consequences to Nigerians.
Edun has dismissed that there were no attempts or considerations to tamper with pension, insurance or any investment funds
