Stop governors from taking loans from pension fund, SERAP tells Buhari

Stop governors from taking loans from pension fund, SERAP tells Buhari

- The proposed loan request of state governors should be stopped, SERAP says

- Recall that governors are attempting to take loans from the pension fund

- According to the governors, the money will be used for infrastructural development

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Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to stop state governors from taking loans from pension funds.

The governors had claimed they wanted to use the money for infrastructural development.

The group on its Twitter page Sunday, December 6, urged the president to immediately instruct the director-general and Board of the National Pension Commission to stop governors' move.

Stop governors from taking loans from pension fund, SERAP tells Buhari
SERAP has urged President Buhari to stop the 36 state governors from borrowing and/or withdrawing N17 trillion from the pension funds. Photo: @SERAPNigeria
Source: UGC

The tweet read:

"We’ve asked President Buhari to urgently instruct the director-general and Board of the National Pension Commission [NPC] to stop the 36 state governors from borrowing and/or withdrawing N17 trillion from the pension funds purportedly for ‘infrastructural development."

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Meanwhile, Nigerians have waded in, with many people saying it is not right for the governor to take loans from the fund.

El Idris wrote:

"The pension fund is meant to be invested and one sure way is to borrow it to the government while a portion goes into stock investment. The SERAP is still seeing the president as a military head of state that can just issue a decree to decide a matter."

Jummy Ajibade also said:

"This is contributed money ....mandatory monthly contribution by employees, so they cannot borrow it. The governors that refused to pay pensioners or delayed payments for their selfish interest. . SERAP, please wage war against them they are wicked."

Presley Alegbe on his part added that:

"Alternatively, pensioners should write their PFAs through PENCOM seeking for the termination of their contribution with immediate effect."

A citizen of new Nigeria also said:

"I say a big NO to this move! It is obvious most states are not viable. It is also an open fact that the best time to restructure the country is now. Any state that cannot stand, should collapse into a merger with its mother state. A fraction of the pension funds should be.

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Alagba Ken added:

"I am sure that they are shocked that pension funds have so much reserved money, hence they are coming with Bazookas for the funds.
"People that can hoard Indomie cannot fear reserved pension funds. They are that cold to patriotism."

Daniel Mshelia claimed that:

"These governors are evil, what have done and have to show for the several allocations they have been receiving and now want to take from pension funds for the purported infrastructure? They are thieves and want to loot as most of them are in their 2nd term. No to this evil plot!"

Amos_OK also claimed:

"The pension fund has about 50% of its funds from deceased workers whose relatives and families cannot access the funds due to deliberate administrative bottleneck intended to achieve the same objective. The other 50% can be accessed by pensioners. It shouldn't be given to governors!"

In a separate report, the Federal High Court, Abuja was asked by the SERAP and 365 concerned Nigerians to reject a suit by Adamu Garba, a chieftain of the All Progressives Congress (APC) to shut down Twitter in the country.

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The group who made this known in a series of tweets on Sunday, November 8, noted that the application was brought in the interest of the public.

Legit.ng gathered that the body in the suit that was filed on Friday, November 6, asked the court to dismiss Garba's case which seeks to stop the operation of Twitter within the Nigerian cyberspace, and ultimately restrict the rights to freedom of expression, peaceful assembly, and media freedom in Nigeria.

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Source: Legit.ng

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