Early in the year, the National Economic Council (NEC) had expressed its intention to borrow N2tn from the growing funds under the Contributory Pension Scheme, the Nigeria Union of Pensioners has kicked against the plan, noting that the Government has no authority over the money and should, therefore, not tamper with it.
This is as the Nigeria Governors’ Forum has endorsed two proposals to borrow a total of N17tn from two sources for infrastructural development. The Governors took the decision after receiving a briefing from the Kaduna State Governor, Mallam Nasir el-Rufai, who is the Chairman of the National Economic Council Ad Hoc Committee on Leveraging Portion of Accumulated Pension Funds for Investment in the Nigeria Sovereign Investment Authority.
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