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HomeLabour and ProductivityNLC Fumes Over Governors' Move To Borrow From Pension Funds

NLC Fumes Over Governors’ Move To Borrow From Pension Funds

The Nigeria Labour Congress has objected the recent moves by State Governors Forum to borrow from the Pension funds.


The NLC President Comrade Ayuba Wabba made the objection in Abuja as special guest of Honor at the 47th National Executive Council meeting of the Medical and Health Workers Union of Nigeria.

Ayuba who sounded a strict warning over the moves, said that the governors are planning to reap where they did not sow, their request is dead on arrival.

The number one worker in Nigeria stated this against the backdrop of plans by the 36 state governors to approach the National Pension Commission to borrow the sum of N17trillion for infrastructural development.

According to the NLC President, its unconstitutional and unacceptable for governors to contemplate going to access money that is meant for retirement of Nigerian workers.

He said, “We are waiting for them, just imagine you have a savings account and somebody, an outsider will just come and collect money from your account, its not done anywhere, we would never accept it.

“We should be ready, whenever the leadership of NLC will call you out to protest because we will use the last blood in our veins to protest our savings”.

Recall that while the Social Economic Rights and Accountability Project SERAP had asked President Muhammadu Buhari to stop the governors from borrowing the money, the idea to approach the pension funds managers was reached at the National Economic Council meeting, where Kaduna State Governor, Nasir El-Rufai serves as Adhoc Committee Chairman.

Earlier, the President of Medical and Health Workers Union, Comrade Biobelemoye Joy had called for economic restructuring, rather than dissipating energy on the amalgamation and political structuring of Nigeria.

According to MHWUN, that a hundred years after amalgamation and sixty years after independence, Nigerians are still grappling with the intricacies of how to live together, is quite a misnomer.

His words, “As a union, we believe rather than tackling settled issues, we should concern ourselves with how to come out of the structural gridlock that bad leadership has thrown the country into and instead restructure the nation’s economy so that the potentials that abound in the country could be realized and subsequently set us on a path of wealth generation and job creation.

“I therefore feel the recurring calls for restructuring should be clearly defined and aligned from a development point of view and the attendant benefits to the country.

“It should be centred around the ambition of stimulating economic activities to improve the wellbeing of Nigerians, it should also be about how to make every part of the country to get involved in productive economic activities and generate wealth to our people. It is all about equity, justice, fair and equitable dealing in marshalling out the dividends of democracy”.

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