LABOUR REJECTS BID TO BORROW FROM N17TR PENSION FUND

Written by on December 11, 2020

ORGANISED LABOUR HAS REJECTED A FRESH BID BY GOVERNORS TO BORROW FROM THE N17 TRILLION PENSION FUNDS.

THE NIGERIA LABOUR CONGRESS (NLC) KICKED AGAINST A SIMILAR PROPOSAL BY WORKS AND HOUSING MINISTER BABATUNDE FASHOLA TO DEPLOY WORKERS’ RETIREMENT BENEFITS BEING MANAGED BY PENSION FUND ADMINISTRATORS (PFAS) IN THE DEVELOPMENT OF INFRASTRUCTURE.

THE NLC VOWED TO MOBILISE WORKERS NATIONWIDE TO PROTEST ANY MOVE TO BORROW FROM THE MONEY, SAYING IT WAS THE RETIREMENT BENEFIT OF WORKERS.

NLC PRESIDENT AYUBA WABBA SPOKE ON THE REJECTION AT THE 47TH NATIONAL EXECUTIVE COUNCIL (NEC) MEETING OF THE MEDICAL AND HEALTH WORKERS’ UNION OF NIGERIA (MHWUN) IN ABUJA. THE NIGERIAN GOVERNORS’ FORUM (NGF) HAD ENDORSED TWO PROPOSALS TO BORROW N17 TRILLION FROM TWO SOURCES FOR INFRASTRUCTURAL DEVELOPMENT.


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