₦airaland Forum

President Muhammadu Buhari has asked his children to study hard, saying he will not steal Nigeria's money.
The president said this in a documentary entitled "Buhari: Beyond the Iron and Steel" aired on Nigerian Television Authority last night by the Presidency.


Buhari also said the goodwill he enjoyed from the masses kept him in politics.
He added that his central objective was to provide transparency and accountable government.
"I pray five times a day thanking God that allowed people to understand and believe me. This goodwill that I enjoy from the masses is what is keeping me in politics and of course, my central objective is to provide transparency and accountable government," he said.
Earlier in a Facebook post, presidential spokesman Mr Femi Adesina quoted some government officials as commenting on Buhari thus:
"He gives you things to do, and leaves you strictly to do those things. No interference at all, once he has confidence in you....And he cracks those jokes, and manages to still keep a straight face." -Vice President Yemi Osinbajo.
"He gave me some priority projects: Mokwa/Jebba road, Lagos/Ibadan Expressway, and Second Niger Bridge...He never appends his signature to anything, unless you've explained, and he understands it." Mr Babatune Raji Fashola, Minister of Power, Works and Housing.
"When we were in the opposition, you needed to see how we rolled on the floor in his living room, as we laughed. Of course, we can't do that again now." Mallam Nasir El-Rufai, Kaduna State governor.
"I wish I had his patience. He would listen to everybody, and then take a decision. He is a reformed democrat." Governor Ibikunle Amosun of Ogun State.
"How I wish Nigerians know his softer and accommodating side. Very jocular. But it is our duty to tell them." Abike Dabiri, Senior Special Assistant on Diaspora Matters.

SalamRushdie:
So apart from sending 10 million Nigerians into employment Buhari has extended his recklessness into the funds saved up by worker for their use in yhe even of job loss ..Damn this man is worse worse worse than I think oo

Adebisiracheal:
Nice one

Bobby808:
All-right. Thanks for the accurate time keeping..

ladeb:
chaiii eehh there is God ooo...very soon them go use nigeria it's self borrow money

The federal government has borrowed a whopping N5 trillion from the N7.3 trillion pension funds saved since the commencement of the Contributory Pension Scheme (CPS) in 2004.

LEADERSHIP investigations revealed that the N5 trillion was loaned to the government by the pension fund managers to fix its infrastructural deficits and meet its financial obligations as and when due.

It was learnt that, while the money has allowed the government to build new roads, repair the rail system, fix some of the power challenges, pay salaries of its workforce, among others, it has also in return lead to economic growth and development.

Findings by correspondents showed that the Pension Fund Administrators (PFAs) invested N3.87 trillion, amounting to 54 per cent of the pension funds, in federal government bonds, while the pension operators also invested N1.27 trillion, representing 17.7 per cent of the pension funds in government treasury bills in a bid to rescue the federal government from illiquidity.

This means the pension industry has granted 71 per cent of the pension assets as loans to the federal government through bonds and treasury bills.

Since federal government bonds and treasury bills are less risky, the pension operators decided to invest heavily in them, while the new scheme has generated about N2.5 trillion as investment income from some of the investments PFAs made.

Speaking on this development, the chairman, Pension Funds Operators of Nigeria (PenOp), Eguarekhide Longe said, “With about N5 trillion invested in infrastructural development through bonds, it shows you that the pension fund has been active. So, the philosophy of managing this money is to add to it. It means that the money has been used profitably”.

He expressed dismay over the comments made by some lawmakers and government officials that the pension fund is lying idle, noting that most of the fund still resides with government.

He disclosed that, while the pension fund operators are ready to invest more of the fund in infrastructure, the federal government must come out with infrastructure bond, which it is yet to do.

“We are ready to invest in infrastructural bonds whenever the government decides to float them to finance key developmental projects”, Longe added.

Promising that the pension fund managers are ready to engage with government to expand the economic space, though it is not their primary objective, he added that care must be taken not to invest pension fund in a project that will not regenerate it.

“If you put pension fund in a project that does not regenerate it, the money is gone and in many cases as we have found, the project has not been delivered because it was not properly conceived”, Longe noted.

He said the managers had requested the investment banking community to come out with products that abide by the investment guidelines in the Pension Act, which operators can finance.

Longe continued: “The fact is that there are ample provisions in the investment guidelines that allow for investment in projects, so to say, infrastructure, private equities and real estates, bonds, among others.

“But what has happened is not that the money is idle in the PFAs or that the fund managers have not looked for those projects. It is not their jobs to go and create projects, but we have actively sort the investment banking community to develop products that we can invest in”.

In the same vein, the former Chairman of PenOp, Dave Udeanu, called on the government to come up with projects that are backed up with adequate guarantee, stressing that most states have already invested part of the pension funds in infrastructure.

eerekake:
Working fine on UNIQUE SAT 1111HD.

kennyjam:
你是个月
光芒果台
阶层层面包

for anyone who understands chinese, that's my comment.


If u sabi, come teach me make i use am read the comment wey i write too.

SalamRushdie:
Fix electricity before all this shallow uninformed talk....Poor elecrticity suppylly is actually the biggest problem of TV advertising industry for now than anything else, I should know this because I earn a living from this field currently

SalamRushdie:
You will remain the most useless president Nigeria has ever had ..Buhari u are a failure I swear

Zanas:
Buhari daga shaitan ne!!

SalamRushdie:
What is dullard upto?