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Nairaland Forum / Nairaland / General / Politics / FG Borrows N5trn From Pension Funds (18608 Views)
Atiku Borrows Ex-president Goodluck Jonathan’s Statement At Peace Accord / FG Borrows N6.16tn From Worker's N8.499tn Pension Fund / FIRS Generates N5trn, Targets N5.3trn By Year-end (2) (3) (4)
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Re: FG Borrows N5trn From Pension Funds by just2endowed: 11:31am On Dec 25, 2017 |
Upon all of these investments in government securities, pfa will not pay anything or add accrued income on pension to people account 2 Likes |
Re: FG Borrows N5trn From Pension Funds by Femsyn(m): 11:35am On Dec 25, 2017 |
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. "Borrowing" did not start with Buhari, headline readers. 1 Like |
Re: FG Borrows N5trn From Pension Funds by Nobody: 11:37am On Dec 25, 2017 |
Rexphobia:Empty head. Best investments globally for such funds is real estate and other privately run ventures. That is where individual businesses are allowed to thrive without government clamp down because of ethnic orientation of the business owners like we have seen in the case of Innosson motors recently. Pls, google if you can't do a good research. 6 Likes 1 Share |
Re: FG Borrows N5trn From Pension Funds by micklplus(m): 11:38am On Dec 25, 2017 |
We love mischief a lot. I am waiting for the wailers to run to town with coined headline set to deliberately set the polity on fire. Headlines like this are sensational and an attempt to change fact. How area of investment turns "borrow" is beyond me. Such areas where pension fund administrators according to the pension act can invest are ; government bonds and treasury bills 1 Like |
Re: FG Borrows N5trn From Pension Funds by otokx(m): 11:41am On Dec 25, 2017 |
Is Nigeria going bankrupt? 2 Likes |
Re: FG Borrows N5trn From Pension Funds by labiola: 11:43am On Dec 25, 2017 |
The heading is misleading, ever since the commencement of the Pension Act, 2004 and subsequent amendment in 2014. Pension Fund has being investing in money market, capital market and Govt bond. The returns on these investment are the growth you see on your RSA statements every day. How do you expect such money be idle without investing it. It is so sad people don't use their brains to think again and quick casting aspersion on APC. The pension fund is intact and is growing, that is the only industry in Nigeria that is well regulated . Treasury bill, govt bonds are low risk investment which the returns are stable. 3 Likes 1 Share |
Re: FG Borrows N5trn From Pension Funds by omocalabar(m): 11:47am On Dec 25, 2017 |
A-looter continua |
Re: FG Borrows N5trn From Pension Funds by anigbajumo(m): 11:51am On Dec 25, 2017 |
Am highly disappointed in PMB,can't bliv this.... |
Re: FG Borrows N5trn From Pension Funds by SalamRushdie: 11:53am On Dec 25, 2017 |
MakeADifference: The end has come |
Re: FG Borrows N5trn From Pension Funds by LaExpert: 11:55am On Dec 25, 2017 |
Poorly reported news. That portion of the pension funds, by law, has to be invested in government bonds and TB. It wasn't borrowed by the government per se. It is just like reporting that banks have borrowed all your money to do business when indeed, you have deposited it with them for the purpose of earning an interest. 2 Likes 1 Share |
Re: FG Borrows N5trn From Pension Funds by gdayo: 11:59am On Dec 25, 2017 |
is it from the same pension DAT dey re owing NIGERIAN PRISON SERVICE? na wa oo |
Re: FG Borrows N5trn From Pension Funds by labiola: 11:59am On Dec 25, 2017 |
kaorama: You are the empty head, your reference to innosson has given you away. Any further comments will not change your mind. But for the benefit of those who doesn't have same mindset with you, I will give some info. According to pension guidelines on investment of pension fund, the number one objective is the safety of the fund and other thing can follow. PFAs are allow to invest 40% of their fund under management in govt bond, 30% in money market and capital market and the rest in real estate and other investment instruments. However, most of the PFAs are yet to invest so much in the real estate because of the risks and Nigeria factors. That is why they are expecting govt to regulate that sector so as to give the legal framework. Infrastructural development is another area that PFAs can invest but things need to be put in proper perspectives. People like you will be the first to attack Pfas of wrong investment if they fail to meet up with their pensioners obligation. A lot of real estate firms borrowed from banks and they failed to pay back, putting the subscribers in problem. Where is Lekki Garden today? May be that will give you an idea what is happening in that sector. 2 Likes 1 Share |
Re: FG Borrows N5trn From Pension Funds by Rexphobia(m): 12:01pm On Dec 25, 2017 |
kaorama: Hehehe, go and read the PRA 2014...then we can talk. I would be happy to have an intellectual conversation with you, if only you can be civil and leave ethnic bias... How did Innosson even get into this conversation 1 Like |
Re: FG Borrows N5trn From Pension Funds by Rexphobia(m): 12:05pm On Dec 25, 2017 |
labiola: Thanks for schooling the dude, I don't know what people gain from sensationalism 2 Likes 1 Share |
Re: FG Borrows N5trn From Pension Funds by olaboy1: 12:08pm On Dec 25, 2017 |
Unserious government, it would cost around $20b to generate around 8000MW of electricity, the government did not take money out from ECA when they had the opportunity. Today UAE has contracted some South Korean companies to build a nuclear power plant for $40b.....Naija had $60b in ECA at one point. Since it’s so difficult to fight corruption at the federal level, maybe we need to clamor for equal sharing of revenue in all the 774 LGA’s and scrap federal allocations and parastatals. It’s much easier for us to storm our various LGA’s than ride a bus to Abuja Aso Rock under the protection of the Nigerian army. It doesn’t make any sense to me to lend the government 5tr Naira, the corruption at that level is too massive. There are several investments the pension funds can be put into. |
Re: FG Borrows N5trn From Pension Funds by GavelSlam: 12:09pm On Dec 25, 2017 |
Rexphobia: Also, I can't find any dates. |
Re: FG Borrows N5trn From Pension Funds by labiola: 12:10pm On Dec 25, 2017 |
Rexphobia:Boss, don't waste your time. most of the comments I read on this platform make me sick and sad. We have a lot of productive age bracket on this forum but they don't put their brains to use. 1 Like 1 Share |
Re: FG Borrows N5trn From Pension Funds by nothernstar: 12:11pm On Dec 25, 2017 |
ManirBK:which economic growth have you seen in this country. Instead the reverse is the case. Is there any improvements ever since dispensation of change. Pls I stand to be corrected. Pls kindly tell me one. Ejoo |
Re: FG Borrows N5trn From Pension Funds by nothernstar: 12:14pm On Dec 25, 2017 |
Keep brainwashing us. We be your mumu. Money for election. |
Re: FG Borrows N5trn From Pension Funds by DeRay98(m): 12:14pm On Dec 25, 2017 |
micklplus: You'll before the end of the day, some of them ll attack you, call you "APC" propagandist etc. They don't read to comprehend or acquire the knowledge. Only controlled by rage, shallow mindedness. When MMM was making waves, some of us who were around at previous eras of similar scams in the late 80s and early 90s warned them "MMM" is an old wine in a new wine skin. They insulted us, saying it was better than Buhari's govt. Who laughed last? It irritates me so bad. 2 Likes 1 Share |
Re: FG Borrows N5trn From Pension Funds by labiola: 12:14pm On Dec 25, 2017 |
just2endowed:Stop displaying your ignorance in a public forum. So all the growth you have on your RSA is not an additional income. Olodo.. |
Re: FG Borrows N5trn From Pension Funds by labiola: 12:21pm On Dec 25, 2017 |
gdayo:Look at this one again. Yes, it was part of the money. |
Re: FG Borrows N5trn From Pension Funds by Fxwarrior: 12:23pm On Dec 25, 2017 |
MakeADifference: Now I believe FG is very wicked. How can you touch money of old people who need their monies after toiling in youthful days. Its possible they have cursed this country. No wonder everything is in shambles! |
Re: FG Borrows N5trn From Pension Funds by labiola: 12:24pm On Dec 25, 2017 |
DeRay98: That is why these stupid politicians will continue to take us for a ride, because our youth are so gullible. They have lost every sense of reasoning. 1 Like |
Re: FG Borrows N5trn From Pension Funds by saraki4Pres2019: 12:32pm On Dec 25, 2017 |
labiola: You need to be properly educated. Stop brandishing high level ignorance here. Today is Christmas. You mean this idea of government touching pension fund is a good one? Am so disappointed in people like you. Such monies are best tailored towards private businesses. In that way the empower citizen and grow GDP. Do you know the impact of infrastructural development on GDP? And do you know the significance of infrastructural development? It is all about to create enabling environment for businesses (mostly privately owned businesses to grow). I feel sick hearing from uninformed sources, honestly. 1 Like |
Re: FG Borrows N5trn From Pension Funds by lebanonboy: 12:32pm On Dec 25, 2017 |
Chaii buhari has finished us. Allah ya isa. |
Re: FG Borrows N5trn From Pension Funds by Nobody: 12:36pm On Dec 25, 2017 |
Re: FG Borrows N5trn From Pension Funds by labiola: 12:36pm On Dec 25, 2017 |
Fxwarrior:Do you understand what we are talking about here? |
Re: FG Borrows N5trn From Pension Funds by Sammyblaq(m): 12:37pm On Dec 25, 2017 |
About 7trn and pensioners are been owed. Pensioners are dying everyday cos of arrears owed and about 5trn is been borrowed 2 FG. Ogwu eGo!. A bank/business is surviving 2day cos of this pension fund. Who re dis pension funds managersn¿. BASTARDS!. #D #PayPensioners. |
Re: FG Borrows N5trn From Pension Funds by Charly68: 12:38pm On Dec 25, 2017 |
The pension fund managers have trust in this Govt ..Buhari won't dishonor himself .. |
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