• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, September 7, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

No Plan To Use Pension Funds Illegally – Federal Govt

by Mark Itsibor
1 year ago
in Business, Cover Stories
Pension Funds
Share on WhatsAppShare on FacebookShare on XTelegram

The federal government has stated that it has no plans to illegally access or misuse the pension funds and savings of Nigerian workers. This assurance was given by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in response to circulating rumours suggesting otherwise.

Advertisement

In a detailed statement, Edun addressed the concerns head-on, emphasising the stringent regulations governing the pension industry. “The pension industry, like most of the financial industry, is highly regulated. There are rules and well-laid-out limitations about what pension fund assets can be invested in, and what they cannot be invested in,” he said.

Edun stressed that the government fully respects these regulations and has no intention of overstepping the prescribed limits designed to protect workers’ pensions. “The federal government has no intention whatsoever to go beyond those prescribed limits or outside those bounds, which are there to safeguard the pensions of workers,” he affirmed.

The minister clarified that a recent announcement at the Federal Executive Council (FEC) was misinterpreted. “What was announced at the Federal Executive Council was merely for information purposes only. No approval was sought for any action whatsoever,” he explained. 

He said the announcement was intended to inform stakeholders about an ongoing initiative involving key players in the long-term savings industry, aiming to explore how funds could be optimally used within existing regulations to drive investments in critical growth areas such as infrastructure and housing.

ADVERTISEMENT

Edun highlighted that the initiative seeks to align with legal frameworks to boost investments without compromising the safety and returns of pension funds. “Within this context, there is no attempt, nor is it being considered, to offer unsafe investments for pension funds or even insurance funds or any investment funds. No attempt whatsoever to increase the risk. No attempt whatsoever to lower the returns that would otherwise be earned,” he assured.

The finance minister further explained the government’s role in providing guarantees to unlock funding for economic growth, job creation, and poverty alleviation. “It is important to remember that the federal government possesses the ability to provide guarantees where stocks are needed in order to unlock funding that will lead to growth, creation of jobs, and alleviation of poverty,” he noted.

Edun described the initiative as an ongoing conversation and a challenge for the financial industry to devise innovative solutions that safeguard long-term savings while contributing to economic growth. 

RELATED

Lagos Orders Tankers, Trailers To Vacate Apapa-Oshodi Expressway

JUST-IN: Federal Government Calls Emergency Meeting To Avert NUPENG Strike

5 hours ago
Baliqees Wins Prestigious West Africa Women Agripreneur Award

Baliqees Wins Prestigious West Africa Women Agripreneur Award

15 hours ago
ADVERTISEMENT

“It is an ongoing conversation, a challenge, a test for the best and the brightest in the financial industry to come up with solutions that, while safeguarding the long-term savings, do provide an avenue that can help to boost growth in the economy,” he concluded.

The minister’s remarks aim to dispel fears and reassure Nigerians that their pensions are secure. He also stressed on the government’s commitment to transparency and adherence to regulatory frameworks underscores its dedication to maintaining the integrity of the pension system while seeking avenues for economic development.


Join Our WhatsApp Channel



Tags: Pension Funds
SendShare10194Tweet6372Share
ADVERTISEMENT
Previous Post

Federal Govt To Set Up Committee To Promote Agritourism Sector

Next Post

Nigerian CEOs Need Strategic Leadership To Thrive In Uncertain Landscape – Peters

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Lagos Orders Tankers, Trailers To Vacate Apapa-Oshodi Expressway
Cover Stories

JUST-IN: Federal Government Calls Emergency Meeting To Avert NUPENG Strike

2025/09/07
Baliqees Wins Prestigious West Africa Women Agripreneur Award
Business

Baliqees Wins Prestigious West Africa Women Agripreneur Award

2025/09/07
Missing Crude: CSOs Dismiss Whistleblower’s Claims, Allege Extortion Attempts
Business

India Expands Crude Purchase From Nigeria

2025/09/07
NGX Group Appoints Popoola As GMD/CEO
Business

NGX Lifts Trading Suspension On Universal Insurance Shares

2025/09/07
Lagos Festival To Celebrate Creative Industry Excellence
Business

Lagos Festival To Celebrate Creative Industry Excellence

2025/09/07
Empowering Digital Ownership: Holiverse’s Vision for Africa’s Blockchain Evolution
Business

Africa Targets $15 GDP On Investment In Agriculture, Industry, Service

2025/09/07
Leadership Conference advertisement

LATEST

Troops Kill Notorious Bandit Leader Kachalla Balla, 5 Others In Kogi

BBNaija10: After Big Soso, Ivatar, Doris Evicted

JUST-IN: Terrorists Attack Kachia Community, Kill 8, Kidnap Scores

Trabzonspor, Man Utd Reach Verbal Agreement Over Goalkeeper Onana Loan Deal

BBNaija10: Housemate Big Soso Evicted After Eventful Run

Amnesty International Slams DSS Over Attempt To Censor Sowore’s Social Media Account

LP Knocks Rhodes-Vivour Over ‘Hasty Defection’ To ADC

Flood: Bauchi Constructs Alternative Link Road For North-East, North-West

North West Development Commission, Firms To Sign $200m Agric MoU

Osimhen Returns To Turkey As Super Eagles Depart For Crucial World Cup Qualifier In South Africa

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.