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Author Pension fund won’t be used for COVID-19 –SGF  (Read 77 times)

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Offline Isaac Adeniran

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Pension fund won’t be used for COVID-19 –SGF
« on: April 24, 2020, 08:05:51 PM »
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  • Pension fund won’t be used for COVID-19 –SGF

    Meanwhile, at the briefing, the Chairman of the Presidential Task Force on COVID-19 and Secretary to the Government of the Federation, Boss Mustapha, said although the body considered using part of the funds lodged in the Contributory Pension Fund for COVID-19 palliative, it decided not to touch the money after considering the “ravaging” impact of the pandemic on the world economy and health of the people.

    He said, “We looked at the issue of (contributory) pension fund and we even asked the Minister of State for Education to do a position paper but our conclusion was that the time was not ripe for us to go there because the entire world order, in terms of economy and health system, have been disrupted by COVID-19 and nobody can imagine the consequence all over the world until the dust is settled.

    “The $48m given by the Chinese Government (to support Nigeria’s fight against COVID-19 fight) and other donations go into separate accounts that have been created by the Account General of the Federation in five commercial banks. On a daily basis, he will mop the account and move the money to the two CBN accounts created for COVID-19.”

    Earlier in his address, the President of the Nigeria Labour Congress, Ayuba Wabba, warned against the use of the pension fund, saying it was contributed by workers and meant for life after service. He said there was the need to protect the fund.


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    Pension fund won’t be used for COVID-19 –SGF
    « on: April 24, 2020, 08:05:51 PM »
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