June 18, 2024
No Plans To ‘Illegally Access’ Workers’ Savings, Pension Contributions, Says FG
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No Plans To ‘Illegally Access’ Workers’ Savings, Pension Contributions, Says FG

The Federal Government says there are no plans to illegally access workers’ savings and pension contributions.

Responding to reports making the rounds that the Federal Government plans to tap from the pension and life insurance funds to develop infrastructure in the country, the Minister of Finance and the Coordinator of the Economy Wale Edun said the government will not illegally access the savings and pensions of workers.

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Clarifying further, the minister said the pension industry, like most of the financial industry, is highly regulated. He also said there are rules, there are limitations about which investments can be made with pension funds.

Mr Edun added that the Federal Government has no intention whatsoever to go beyond the limits and regulations which are in place to safeguard the pensions of workers.

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