Stella Dimoko NLC Rejects Fresh Bid By State Govs To Borrow From Pension Fund And Tell Them The money Isn't For Borrowing...


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Friday, December 11, 2020

NLC Rejects Fresh Bid By State Govs To Borrow From Pension Fund And Tell Them The money Isn't For Borrowing...

The Nigerian Labour Congress (NLC) on Thursday rejected a fresh bid by State governors to borrow from the N17 trillion pension funds.

Mr Ayuba Wabba, NLC President, spoke on the rejection at the 47th National Executive Council (NEC) meeting of the Medical and Health Workers’ Union of Nigeria (MHWUN) on Thursday in Abuja.

Wabba also vowed to mobilise workers nationwide to protest any move to borrow from the money, adding that it was the retirement benefit of workers.

Recall that the Nigerian Governors’ Forum (NGF) had endorsed two proposals to borrow N17 trillion from two sources for infrastructural development.

“Pension money isn’t for borrowing. Pension money is the retirement savings of workers
It can’t be borrowed, you must go through the bank, and in this case, you must go through the PFAs and their guidelines; even the guidelines they want to play down, but to the glory of God, the board of PenCom has been constituted.

“I stand here to represent all of you. We’re not going to agree; less than five per cent of the states are keying into the contributory pension.

“Yet they want to borrow the money. The bulk of the money is from Federal Government workers and private-sector workers. So how do you want to borrow from where you haven’t sown?

“It is not free money and let me sound a bit of warning. Any day that we hear the pension fund, our money has been borrowed, I’ll declare a protest, and everybody is going to be on the streets to protect our hard-earned money.”
The money belongs to workers. We contribute that money so that when we retire, we can have something for retirement.”
from dailypost


  1. Hmm shameless people!! So that they will now ''Maina'' us after squandering the money..These people are so sick and have a disgusting level of inordinate desire to amass wealth...Nonsense~

  2. Shameless governors. None of them built even a single factory in their state to generate revenue. All they do is share monies, borrow monies, squander and borrow again and wait for federal allocations. The Oghe cashew industry in my state had been squandered to extinction.
    Shame! Shame, enough baskets of shame to go round and cover all your faces.🧺🧺🧺🧺🧺🧺🧺🧺🧺🧺🧺🧺

  3. They are looking for monies for their next "erections" 😏😏😏😏😏😏😏😏

  4. That's commendable because any money they borrow can never be returned.

  5. Imagine the madness and wickedness

    Of all monies they want to dip their greedy claws into, it’s that reserved for old, feeble retirees they want to borrow? What are these old folks supposed to survive on? And we know the likelihood of them paying back is close to nil.
    This country is just a sickening mess.

  6. They want to borrow money pensioners suffered to save so that they won't receive their pension again? Thunderr4rrr

  7. All these governors and polithiefcians "SHOULD GO AND DIE!" (in Oshiomhole's parlance)

    How many low-cost housing have you built for workers to buy and pay gradually? What social amenities have you provide?

    Borrow from your own bloated salaries, security votes, allowances, pensions and that of Senators and House of Reps!


    1. What social amenities have you *provided*? (sorry o, before I bite my tongue in anger)

    2. Are you minding the shameless people!! Anony 12:47

  8. This is Good.
    What a shameless country

  9. Awon Oloriburuku , they have no plan for the masses even the country as a whole. the little the lucky ones with paid job were able to save is what they wantEd to embezzled again.

    Won ti sepe fun gbogbo yin .

    The useless mega transport station you’re building should start fetching you all money.
    Misplaced priorities rulers.
    Copy and paste rulers
    the Oyinbo you all wanted to copy has plans on ground for all those blings you’re seeing in their countries.
    I didn’t even expect much when current president is deaf and dumb the followers too go they follow breeze operate.

    Make dem go borrow from MC Oluomo

  10. APC government is so devilish and dumb all together.i spit on this administration. Tufiakwa!!!.

    1. Do you read at all to comprehend. Your anger should be towards the Governors. Not APC alone. Na wa

  11. GOD go see plenty matter judge

    Evil people
    GOD reward them


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