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.
Culled from: Leadership NG
I have a few questions:
Yes, the money can be invested to make more money for the country, but is a high-risk or low-risk investment?
Are pensioners guaranteed their money irrespective of whether the investment is profitable or not?
Is the Federal government creditworthy?
What is the assurance that whether or not there is ROI, the money will be returned?
