liveLongNprospa:
Looks like apc government favored me.
First pikin Don show today😎

Damnnnnnnnnnn

Congratulations Big man, and may that child be a reward to you and your family

Itsrm:


Nigerian government has been borrowing pension funds for as long as I can remember.

Pension fund managers are one of the biggest investors in NTBs and savings bond. When you buy fixed income instruments from the government, you're essentially borrowing the government money.

Why is this one generating so much uproar?

U are clearly not well informed about this matter for u to claim there’s been no uproar on this nonsense FG borrowings Bubari dem started .

https://www.thecable.ng/reps-move-to-recover-n10trn-pension-fund-borrowed-by-fg/amp/

As at October 2023 the house of reps was still trying to recover over 10 trillion

Unlimited22:
Ladies and gentlemen, today is Unlimited26 👽👽👽

Another revolution round the sun.

Birthday blessings bro.

larride:


They are not taking the money because it's not possible. It's the same way pension managers have been investing pension funds into govt bonds and Bill's. There's no difference.

The government do not have the power to take money that is not even there's and in private custody.

Simple. This has been the practice for as long as I can remember.

If it's about them not paying back, the government will rather print money to pay than default.

We the owners of the money even get to earn some returns on our money. The accumulated interest for some of us is in 6 and 7 figures.

Again, I don't get why this is now generating so much uproar.

larride:


They are not taking the money because it's not possible. It's the same way pension managers have been investing pension funds into govt bonds and Bill's. There's no difference.

The government do not have the power to take money that is not even there's and in private custody.

What u are saying is different from the news article reported . Except it is the author that is reporting a wrong news .

The language of the news article is FG plans to DEDUCT….

Itsrm:


Simple. This has been the practice for as long as I can remember.

If it's about them not paying back, the government will rather print money to pay than default.

We the owners of the money even get to earn some returns on our money. The accumulated interest for some of us is in 6 and 7 figures.

Again, I don't get why this is now generating so much uproar.

If it’s that simple, then why were retirees having issues assessing their savings as at October 2023 prompting the house committee to raise a motion on it ?

BlueRayDick:


I are clearly not well informed about this matter for u to claim there’s been no uproar on this nonsense FG borrowings Bubari dem started .

https://www.thecable.ng/reps-move-to-recover-n10trn-pension-fund-borrowed-by-fg/amp/

As at October 2023 the house of reps was still trying to recover over 10 trillion

The link below further explains what I was saying earlier.

https://punchng.com/pencom-denies-lending-fg-n10tn/%3Famp&ved=2ahUKEwin8_6TqpCGAxWKYEEAHfSaBRkQFnoECDIQAQ&usg=AOvVaw3WFgiQSP_XKFRG3UiBbjx-

BlueRayDick:


If it’s that simple, then why were retirees having issues assessing their savings as at October 2023 prompting the house committee to raise a motion on it ?

I've responded to your other post. Just click the link.

Itsrm:


The link below further explains what I was saying earlier.

https://punchng.com/pencom-denies-lending-fg-n10tn/%3Famp&ved=2ahUKEwin8_6TqpCGAxWKYEEAHfSaBRkQFnoECDIQAQ&usg=AOvVaw3WFgiQSP_XKFRG3UiBbjx-

I have read the article and let’s say I want to give the DG benefit of doubt that she’s saying the truth and not some cooked up story by a political appointee to save the government’s face 5 months after the issue was raised .

So what do we make of the news that says FG wants to DEDUCT and not sell investment products to PFA’s ?

In the past I’ve had chance to actually study the PENCOM act 2004 and I know PFAs are allowed to invest in government bonds and all….. but this news article is saying something different from that.

BlueRayDick:


What u are saying is different from the news article reported . Except it is the author that is reporting a wrong news .

The language of the news article is FG plans to DEDUCT….

Boss the FG cannot just deduct money that is not in their care. Most of the money are in pension funds manager account, not in FG account or FG care.

The right word might be "borrow".

I doubt Pencom and other stakeholders will agree to borrow the FG money though. Let them raise bonds and t-bills.

Wrong thread

OasisX:


.......if renewed hope na sham, una poster boy won't copy it. LOL!

otti be like

I got, no time for fake niggas
Just sip some Cristal with these real niggas
From East to West coast spread love niggas (that's right)
And while you niggas talk shit we count bank figures (say what?)

larride:


Boss the FG cannot just deduct money that is not in their care. Most of the money are in pension funds manager account, not in FG account or FG care.

The right word might be "borrow".

I doubt Pencom and other stakeholders will agree to borrow the FG money though. Let them raise bonds and t-bills.

U are still not getting it.

Let’s say FG decides to raise T-bills , government bonds and other finance instruments . Will it be specific to PFAs alone ?

Will PFAs be under compulsion to invest in those instruments or it will be their prerogative to either invest in them or look at other investment vehicles ?


The tone of that news article sounds as if the FG is gunning for pension funds whether the PFAs and PFCs like it or not. The fact that FG even put a figure on the amount they are looking at and they were specific about pension funds makes it look somehow .

Well, let’s wait for more clarifications sha

BlueRayDick:


U are still not getting it.

Let’s say FG decides to raise T-bills , government bonds and other finance instruments . Will it be specific to PFAs alone ?

Will PFAs be under compulsion to invest in those instruments or it will be their prerogative to either invest in them or look at other investment vehicles ?


The tone of that news article sounds as if the FG is gunning for pension funds whether the PFAs and PFCs like it or not. The fact that FG even put a figure on the amount they are looking at and they were specific about pension funds makes it look somehow .

Well, let’s wait for more clarifications sha

Well theres nothing the FG can do, they do not have control over the funds so I doubt to see where they will see the compulsion for PFAs and PFCs to do their bidding.

I agree with your last line, let's wait for more clarification.

larride:


You will be surprised at how people disregard LABSCA order and just continue building.

Come to Ikorodu and you will see plenty house that was marked by Labsca and the owners still went ahead with the building.

There's even one like 4 houses to where I live where labsca has put stop work like 3 times and the owner and contractor disregarded. Labsca even sealed the house with those their red tape and padlock, them comot the red tape and break the padlock and continue working. The house is 90% completed like this. I'll try and snap the 2 gates of the house tomorrow if possible for you to see how many times labsca has ordered them to stop work and all and yet they ignored it.

The idea that everyone that build house in Lagos has approval from the government is a funny idea Egbon. Alot of craze people dey this state and some get approval to build one thing and go ahead to build another thing.

The problem is still labsca, because they have failed to practice with Integrity and follow due process, most of these discriminate markings of house are mostly shakedowns, e.g people building residential whilst processing their building approval, and if you don't grease the right palms building approval can take 1year to process.

If labsca want to enforce they law they would do it, if they are aware of single residential builds to mark, means they where absolutely aware of all these estates being constructed, and where just bidding their time to cause maximum misery.

Builders do crazy things many times because there is no consequence, are you telling me for example that if at each time labsca came time mark those buildings they arrested the builders that Oga owner won't get the memo? We know the cause of these stuffs, and it's mainly inability of government agency to do their work properly.

larride:


Well theres nothing the FG can do, they do not have control over the funds so I doubt to see where they will see the compulsion for PFAs and PFCs to do their bidding.

I agree with your last line, let's wait for more clarification.

Bro, mistake number 1, after God fear governments, nothing Nigerian govt can do ke? Let just hope they actually meant borrowing by way of TBills or asking PFAs and PFCs to invest in infrastructure bonds or something, cos if it direct deductions omo its scary ooo, you know being the largest employer and defo the largest contributor to the pension funds they can do their magomago if they want & all that will end it will be all talk, and before you know it people will come to muddy the water with their dissatisfaction with PFAs & PFCs.

Ibeme:
Wrong thread

Which one you commit now?

Abi na which violence you wan cause?

Olowunl01:

Bro, mistake number 1, after God fear governments, nothing Nigerian govt can do ke? Let just hope they actually meant borrowing by way of TBills or asking PFAs and PFCs to invest in infrastructure bonds or something, cos if it direct deductions omo its scary ooo, you know being the largest employer and defo the largest contributor to the pension funds they can do their magomago if they want & all that will end it will be all talk, and before you know it people will come to muddy the water with their dissatisfaction with PFAs & PFCs.

Funny how everyone suddenly forget this is Nigeria where government behave like they are above the law over and over again.

This is naija where government and its agencies don’t even obey express court orders.

No be today government Dey take irresponsible decisions and heaven did not fall. When they eventually take those decisions we thought they won’t dare, it is still government’s supporters/apologists that will still explain it away

Roland17:


Which one you commit now?

Abi na which violence you wan cause?

Spambot carry me enter Sanko

larride:


Boss the FG cannot just deduct money that is not in their care. Most of the money are in pension funds manager account, not in FG account or FG care.

The right word might be "borrow".

I doubt Pencom and other stakeholders will agree to borrow the FG money though. Let them raise bonds and t-bills.

Do you really believe Nigeria gov cannot just deduct and give the middle finger


Belike na Mercury u dey base

I wonder why the Women Affairs minister is the only high ranking female government official speaking out against this shit..

Of all the problems in Niger state, marrying out orphaned girls is now a top priority..

CrystalTiger:
I wonder why the Women Affairs minister is the only high ranking female government official speaking out against this shit..

Of all the problems in Niger state, marrying out orphaned girls is now a top priority..

Well, it is her ministry's job to speak to these things but then I agree with u that the conspiracy of silence on the part of other high ranking government officials no make sense at all.

The fact that she's a southern woman sef will make the speaker and his imams dare her to carry on with the yeye weddings.

BlueRayDick:


Well, it is her ministry's job to speak to these things but then I agree with u that the conspiracy of silence on the part of other high ranking government officials no make sense at all.

The fact that she's a southern woman sef will make the speaker and his imams dare her to carry on with the yeye weddings.

Saw somewhere that they're asking for her resignation...She's so lost at this point..

If it's becoming a regional thing, then southern female NASS members and Governors wives should back her up..

nihilistjnr:


Damnnnnnnnnnn

Congratulations Big man, and may that child be a reward to you and your family

Thanks egbon🙏🙏

patrickmuf:
Congratulations bro...

Thanks bro😎

donjazzet:


Congratulations bro. Wishing your child the very best the world has to offer. Cheers. 🥂🍾🥂🥂

Amen ooo
Thanks bro.

You scarce shaa

Segedinho:

Congrats Big man...

The biggest man.
Thank you😁😁

RevFrEbuka:

Congratulations prosper. I tap from this blessing 🙄🙄🙄🙄🙄🙄😞😞😞

Thank you Reverend 😒😒😒

This blessing will follow you🙄🙄🙄🙄

airmark:


Congrats bro. The baby will live long and prosper.

OH yesss

Thanks bro. Add that the baby will avoid every ganduje in business 😁😁

Theflint1:
Congrats chief, the baby shall grow to be a source of joy to its parents.

Thanks bro.
I appreciate this🙏

Ihebu4chelsea:
Congrats Chief!

.. Thanks baba🙌