Some pensioners, under the auspices of Nigeria Union of Pensioners, (NUP), have warned that they would make every State of the federation ungovernable if the State governors borrow from the pension funds as they are reportedly planning.
The pensioners made this declaration at the 19th edition of Pensioners Day celebration held at the Labour House, Abuja, noting that any moment they hear that the state governors borrow from the pension funds, there would be spontaneous protest everywhere all over the federation; warning that “they should not attempt it.”
The governors, led by chairman of the National Economic Council Ad-hoc Committee, Nasir el-Rufa’i, have proposed to borrow N17 trillion from the pension funds purportedly for infrastructural development.
However, in his speech at the Pensioners Day celebration, the NUP President, Abel Afolayan, said the pensioners would join forces with the Nigeria Labour Congress (NLC), and other workers to make all the state ungovernable if the governors should go ahead to borrow from the funds.
Afolayan pointed out that the provision of the Pension Act 2014 as amended was clear, adding that all funds were to be invested for the safety, while safety and adequate return on investment must be paramount.
He questioned the possibility and the capacity of the governors to repay the money if they borrowed.
