The Federal Government says contrary to reports from certain quarters in recent days, it has no plans to “illegally access” workers’ savings and pension contributions.
Making the clarification on Thursday, the Minister of Finance and the Coordinator of the Economy, Wale Edun maintained that the pension industry was highly regulated with limitations about what pension money could be invested such that Government cannot access it arbitrarily
He said the Federal Government had no intention whatsoever to go beyond those limits – in order to safeguard the pensions of workers.
The Minister had been quoted as saying the Federal Government would access the funds to execute infrastructural projects during this week’s Federal Executive Council meeting
He has since said what was discussed was “merely for information” – and that no approval had been granted