It has always been the norm in Nigeria for the rich to get richer and the poor to get poorer whether in a military or civilian government! But the baffling aspect to the loop sidedness of that scenario is that those rich would never share the illicit acquisition with the drawers of water and hewers of wood of the society from which the magnanimous loot was acquired!

The following biblical innuendo should lend credence to the preceding narrative:

THE POOR MAN'S EWE LAMB FOR SUPPER!
2 Samuel 12:1-7
[1]And the LORD sent Nathan unto David. And he came unto him, and said unto him, There were two men in one city; the one rich, and the other poor.
[2]The rich man had exceeding many flocks and herds:
[3]But the poor man had nothing, save one little ewe lamb, which he had bought and nourished up: and it grew up together with him, and with his children; it did eat of his own meat, and drank of his own cup, and lay in his bosom, and was unto him as a daughter.
[4]And there came a traveler unto the rich man, and he spared to take of his own flock and of his own herd, to dress for the wayfaring man that was come unto him; but took the poor man's lamb, and dressed it for the man that was come to him.
[5]And David's anger was greatly kindled against the man; and he said to Nathan, As the LORD liveth, the man that hath done this thing shall surely die:
[6]And he shall restore the lamb fourfold, because he did this thing, and because he had no pity.
[7]And Nathan said to David, "Thou art the man"!

Plan to spend N20 Trillion Pension Fund of Hardworking Nigerians, Atiku tells Tinubu

QUESTION.
IS ATIKU - OWNER OF INTEL (A PRIVATE AGENCY WHICH COLLECTS PORTS DUTIES ON BEHALF OF FEDERAL GOVERNMENT) NOW A WHISTLE BLOWER)

May 15, 2024 . NEWS BY SAHARA REPORTERS.
According to Edun, the government is focused on tapping into domestic financial resources, particularly pension and life insurance funds, to leverage local funds for national growth. Former Vice President Atiku Abubakar has raised some concerns about President Bola Tinubu administration's plan to tamper with the N20 trillion pension funds to finance critical infrastructure projects across the country.

The Coordinating Minister for the Economy and Minister of Finance, Wale Edun, on Tuesday, after the Federal Executive Council (FEC), announced that the government had unveiled a strategic plan to harness the N20 trillion pension fund and other locally available resources for infrastructure development in Nigeria.
According to Edun, the government is focused on tapping into domestic financial resources, particularly pension and life insurance funds, to leverage local funds for national growth. He added that it was a significant step towards driving economic progress and addressing critical infrastructure needs.

Reacting to the statement, Atiku, a former presidential candidate of the Peoples Democratic Party (PDP), described the news as disturbing. He said the move must be halted immediately. He insisted that it was a misguided initiative that could lead to disastrous consequences on the lives of Nigeria’s hard-working men and women who toiled and saved and now survive on their pensions after their retirement from service.
Atiku who took to his X (formerly Twitter) account to voice his concerns, wrote: "My attention is drawn to a disturbing disclosure by the Finance Minister and Coordinating Minister of the Economy, Wale Edun, as he addressed State House correspondents after the Federal Executive Council (FEC) meeting at the Presidential Villa on Tuesday, 14 May.
"There is, according to the Minister, a move by the Federal Government to rev up economic growth by unlocking N20 trillion from the nation’s pension funds and other funds to finance critical infrastructure projects across the country. The Minister has indicated that although "the initiative is expected to attract foreign investment interest over time", domestic savings are his ‘immediate focus’ for now.
"He provided no useful details, such as the percentage of the funds to be mopped up from the Pension Funds, for example. Even at that, this move must be halted immediately! It is a misguided initiative that could lead to disastrous consequences on the lives of Nigeria’s hardworking men and women who toiled and saved and who now survive on their pensions having retired from service.
"It is another attempt to perpetrate illegality by the Federal Government. The government must be cautioned to act strictly within the provisions of the Pension Reform Act of 2014 (PRA 2014), along with the revised Regulation on Investment of Pension Assets issued by the National Pension Commission (PenCom)."
He warned the government not to act contrary to the provisions of the extant regulation on investment limits to wit: "Pension Funds can invest no more than 5% of total pension funds’ assets in infrastructure investments. I note that as of December 2023, total pension funds assets were approximately N18 Trillion, of which 75% of these are investments in FGN Securities". He said, “There is no free Pension Fund that is more than 5% of the total value of the nation’s pension fund for Mr Edun to fiddle with.
“There are no easy ways for Mr Edun to address the challenges of funding infrastructure development in Nigeria. He can’t cut corners. He must introduce the necessary reforms to restore investor confidence in the Nigerian economy and to leverage private resources, skills, and technology.”

BEFORE TINUBU - THERE WAS BUHARI!!

The quest to raise money by hook or Crook is a Continuum in APC government from 2015 to 2024! After exhausting paper money printing through WAYS AND MEANS option, Buhari visited all DORMANT ACCOUNTS in the various Commercial Banks to mop up all idle monies including those of DEAD CUSTOMERS to pay multiple DEBTS!
MUST IT BE THE RICH ALL THE TIME?
And whereas they all have monies illicitly raked from the system and stashed away in foreign accounts in Panama, Bahamas, USA, Britain etc.

Was it not high time they repented and for once support the clarion call for ONE HOUSE PARLIAMENTARY SYSTEM FOR GRASS ROOTS POLITICS which would enable the POOR CITIZENS TO GOVERN THEIR COUNTRY WITH THE PRIME MINISTER OF THEIR CHOICE TO THE SHAME OF THE MONEY BAGS?
Although Edun recanted the unpopular, unthoughtful and selfish Pensions Fund Barefaced Robbery, he should go a step further to apologize to the over 133 multi- dimensional poor masses and confess the failure of the "KALOKALO" (money gulping) Presidential System!
It is never too late to repent because The Almighty God does not want the death of sinners!

[EXPECT A PRIME MINISTER IN NIGERIA NOW!]



I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon. 08130669886, 08058436756. g-mail-dvdolufon@gmail.

z07ion:
It has always been the norm in Nigeria for the rich to get richer and the poor to get poorer whether in a military or civilian government! But the baffling aspect to the loop sidedness of that scenario is that those rich would never share the illicit acquisition with the drawers of water and hewers of wood of the society from which the magnanimous loot was acquired!

its called GREED and unfortunately the above happens ALL AROUND THE WORLD!