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FEC Approves N758bn Bond To Settle Pension Backlog - Politics (2) - Nairaland

Nairaland ForumNairaland GeneralPoliticsFEC Approves N758bn Bond To Settle Pension Backlog (5199 Views)

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Re: FEC Approves N758bn Bond To Settle Pension Backlog by vanitybutiwanti: 6:47pm On Feb 05, 2025
ValarDoharis:
Hope you know bond is borrowing with high interest?
And so what? Are you aware that the government can easily print cash(ways and means) to offset Domestic debts(Treasury bills and Bonds issued in Naira) if they have a problem paying back? Moreover government has never and would never default on Domestic debts
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 6:48pm On Feb 05, 2025
So what is the interest rate? 15%?

Besides Tinubu is borrowing left, right and center despite removal of dollar, petrol and electricity subsidies
TimeManager:
Nigeria is issuing the bond, we set the interest rate. Educate yourself, everything is not wailing.


-Kiss the truth!
Re: FEC Approves N758bn Bond To Settle Pension Backlog by helinues: 6:48pm On Feb 05, 2025
ValarDoharis:
When the time comes, you will mention the development projexts vis-a-vis the money spent to justify them
Hahahaha, sebi una no dey give shishi for una own politics.

Wait for more defection before 2027.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 6:50pm On Feb 05, 2025
Don't be deceived by these defections. Tilumbu will be booted out come 2027, after he never won 2023 elections but was rigged in when IREV was shutdown
helinues:
Hahahaha, sebi una no dey give shishi for una own politics.

Wait for more defection before 2027.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 6:51pm On Feb 05, 2025
You're truly ignorant. Why is inflation 37%?

Keep printing until inflation grts to 100%
vanitybutiwanti:
And so what? Are you aware that the government can easily print cash(ways and means) to offset Domestic debts(Treasury bills and Bonds issued in Naira) if they have a problem paying back? Moreover government has never and would never default on Domestic debts
Re: FEC Approves N758bn Bond To Settle Pension Backlog by helinues: 6:52pm On Feb 05, 2025
ValarDoharis:
Don't be deceived by these defections. Tilumbu will be booted out come 2027, after he never won 2023 elections but was rigged in when IREV was shutdown
Oh, so he rigged in his first attempt and succeeded. And you still want to challenge him as an incumbent?
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Yankee101: 6:53pm On Feb 05, 2025
A bond is a loan
How will you repay the loan?
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 6:54pm On Feb 05, 2025
Some Northerners that helped him rigged North thought he built Lagos but in 2027, he cannot make that fraudulent claim of Lagos but will be campaigning based on his disastrous 4yrs.

helinues:
Oh, so he rigged in his first attempt and succeeded. And you still want to challenge him as an incumbent?
Re: FEC Approves N758bn Bond To Settle Pension Backlog by helinues: 6:56pm On Feb 05, 2025
ValarDoharis:
Some Northerners that helped him rigged North thought he built Lagos but in 2027, he cannot make that fraudulent claim of Lagos but will be campaigning based on his disastrous 4yrs.
Those northerners will benefit from the clearing of the pension logs.

Or have you forgotten what this thread is all about?
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 6:58pm On Feb 05, 2025
He gave approval, before the money will touch their hands, it will be 2026 during campaign. It'll not work but then. Have you forgotten most people have not received the new minimum wage after 2yrs?
helinues:
Those northerners will benefit from the clearing of the pension logs.

Or have you forgotten what this thread is all about?
Re: FEC Approves N758bn Bond To Settle Pension Backlog by WowSweetGuy(m): 7:04pm On Feb 05, 2025
Thats how they will steal billions on the dead head. God help this fantastically corrupt nation
Re: FEC Approves N758bn Bond To Settle Pension Backlog by surgical: 7:06pm On Feb 05, 2025
TimeManager:
This would cover years of backlog, thank you Mr President.


-Kiss the truth!
At last one positive thing from Tinubu
Unlike every thing going to the elites and serving their interest, this is to the volunarables ,kudos
Re: FEC Approves N758bn Bond To Settle Pension Backlog by vanitybutiwanti: 7:06pm On Feb 05, 2025
ValarDoharis:
You're truly ignorant. Why is inflation 37%?

Keep printing until inflation grts to 100%
shut your mouth, you know nothing, has the Nigerian government ever defaulted on a naira denominated bond? Are you Aware that the CBN maintains a 5% ways and means advance to the Government. I'm tired of you ignorant buffons on the Nigerian cyber space, I may just deactivate my nairaland account, even Almighty US prints cash.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by kayperry: 7:10pm On Feb 05, 2025
zero8zero:
Big relief for retirees. God bless Nigeria
Not so fast, there is nothing these people open there mouth to say that can be trusted

Months later it won't be a shock if nothing is disbursed.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 7:10pm On Feb 05, 2025
Why is your inflation 37%? You compare yourself to US with 3% inflation?

Between 2015 and 2025, APC has crashed the value of your naira by 800% but you're happy.

You're ignorant but take pride in your ignorance
vanitybutiwanti:
shut your mouth, you know nothing, has the Nigerian government ever defaulted on a naira denominated bond? Are you Aware that the CBN maintains a 5% ways and means advance to the Government. I'm tired of you ignorant buffons on the Nigerian cyber space, I may just deactivate my nairaland account, even Almighty US prints cash.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by vanitybutiwanti: 7:17pm On Feb 05, 2025
ValarDoharis:
Why is your inflation 37%? You compare yourself to US with 3% inflation?

Between 2015 and 2025, APC has crashed the value of your naira by 800% but you're happy.

You're ignorant but take pride in your ignorance
shut the fhuck up, ways and means is not illegal, in developed climes its called ' quantitative easing ' . It becomes illegal and detrimental when government abuses it, just the way buhari recklessly printed 23trillion. By law, there is a permissable amount of cash government can ' print ' to ensure successful running of the economy, get educated and get informed dumbo.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 7:19pm On Feb 05, 2025
Why is your inflation 37%?
vanitybutiwanti:
shut the fhuck up, ways and means is not illegal, in developed climes its called ' quantitative easing ' . It becomes illegal and detrimental when government abuses it, just the way buhari recklessly printed 23trillion. By law, there is a permissable amount of cash government can ' print ' to ensure successful running of the economy, get educated and get informed dumbo.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Ishilove: 7:31pm On Feb 05, 2025
History555:
If fg needs to raise funds for pensions, what happened to all the pensions deducted from their salaries
It was borrowed.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Ishilove: 7:32pm On Feb 05, 2025
helinues:
You go ask questions tired.

Sha no have running stomach in the process
He is asking a very very valid question, oga. Stop this blind sycophancy
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Ishilove: 7:33pm On Feb 05, 2025
ValarDoharis:
Answer the question. Tilumbu has almost doubled national debt in less than two years.
What a corrupt government
It was borrowed in the first year of the Tinubu administration
Re: FEC Approves N758bn Bond To Settle Pension Backlog by vanitybutiwanti: 7:38pm On Feb 05, 2025
ValarDoharis:
Why is your inflation 37%?
check my post , it was clearly stated that Buhari recklessly printed 23trillion. Done doing back and forth with you, bye.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by ValarDoharis: 7:50pm On Feb 05, 2025
Tinubu inherited 28% inflation but moved it to 37%. Why are you blaming Buhari?

vanitybutiwanti:
check my post , it was clearly stated that Buhari recklessly printed 23trillion. Done doing back and forth with you, bye.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by drerocker: 8:01pm On Feb 05, 2025
Re: FEC Approves N758bn Bond To Settle Pension Backlog by History555:
Ishilove:
It was borrowed.
Borrowed by whom. The deduction ought to go their pfa. Its the pfa that will pay them. Unless someone has been stealing their pensions
Re: FEC Approves N758bn Bond To Settle Pension Backlog by zero8zero(op): 8:42pm On Feb 05, 2025
kayperry:
Not so fast, there is nothing these people open there mouth to say that can be trusted

Months later it won't be a shock if nothing is disbursed.
Your doubts, your problem
Re: FEC Approves N758bn Bond To Settle Pension Backlog by tunjijones(m): 8:57pm On Feb 05, 2025
History555:
If fg needs to raise funds for pensions, what happened to all the pensions deducted from their salaries
I think the pension wasn't remitted as at the time they were in service.

But these days the money is no more domiciled with the govt but with pension companies.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Curious345: 9:40pm On Feb 05, 2025
After obi criticism
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Housing(m): 11:16pm On Feb 05, 2025
History555:
If fg needs to raise funds for pensions, what happened to all the pensions deducted from their salaries
The approval, granted during Tuesday’s FEC meeting at the State House, Abuja, allows the Debt Management Office (DMO) to raise the funds needed to settle pension arrears under the Defined Benefit Scheme—the system that preceded the current contributory pension scheme introduced in 2004 and amended in 2014.


The backlog is for pensioners that existed before the contributory pensions scheme and those that were not part of the contributory pensions scheme. So no deductions were made from their salaries while in service
Re: FEC Approves N758bn Bond To Settle Pension Backlog by Kewekubosineh: 11:19pm On Feb 05, 2025
But government could do better. It takes more than a year waiting before a retiree could collect Half of his pensions.

Government could settle gratuities of retirees within three months of retirement instead of more than a year. It's retrogressive and many died before they were settled.

This delays is the reason there is massive corruption in civil service. People steal against the rainy day, delays in settlement of gratuities.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by dontbothermuch: 1:30am On Feb 06, 2025
Money that was supposed to be in pension trust fund. They have trusted it out for elections.
Re: FEC Approves N758bn Bond To Settle Pension Backlog by IbnB: 2:38am On Feb 06, 2025
Re: FEC Approves N758bn Bond To Settle Pension Backlog by wildernessVoice: 3:43am On Feb 06, 2025
History555:
If fg needs to raise funds for pensions, what happened to all the pensions deducted from their salaries
If you ask me na who I go ask.
The more you look the less you see in Naija
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