'Investments by the PFAs in the securities of the Federal Government of Nigeria (FGN) are not loans as erroneously portrayed, but investments in securities, through bonds and treasury bills, as approved by the relevant government agencies...'
EXCLUSIVE: Top Nigeria Customs officers enmeshed in multi-billion naira corruption scandalFood security: The Bago challenge, By Dakuku PetersideEXCLUSIVE: Northern senators move against Akpabio over alleged N4trn budget paddingClimate change, extreme weather, conflict exacerbate global food crisisHow to stay constantly motivated, By Sunday Adelaja
Mrs. Dahir-Umar, in a media interview at the weekend, said apart from the fact that PenCom is not a bank and does not warehouse or manage pension funds, the Federal Government did not take a loan of N10 trillion from the Commission. Mrs. Dahir-Umar added that it is an international best practice to invest in investible instruments issued or backed by the sovereign authority and that the FGN securities meet the objectives of safety and fair returns.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PenCom denies giving N10tn loan to Federal GovernmentDirector General of National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, has described as “totally misleading” reports that the Commission gave a N10 trillion loan to the Federal Government.
Read more »
Federal Government may reverse decision to subsidise electricity tariffThe Minister of Power, Adebayo Adelabu, stated that the sector is heavily indebted and the government may reconsider subsidizing electricity tariff. Power supply has significantly dropped due to the indebtedness to power generation companies and gas producers. The government has been indecisive in addressing the issues in the power sector, but Adelabu mentioned that a cost reflective tariff could be the solution.
Read more »
Federal Government begins payment of seized salaries of ASUU lecturersThe Federal Government has started paying the seized salaries of public university lecturers under ASUU. Some lecturers have received two months' payments out of the eight months owed to them.
Read more »
Federal Government's Interventions in Food Crisis May Yield Little HarvestThe Federal Government is facing challenges in addressing the food crisis caused by its policies, and there are doubts about the effectiveness of its interventions. Meanwhile, the government is preparing to release 42,000 metric tonnes of food commodities to support the vulnerable population.
Read more »
Federal Government and Nigeria Police Warn Against Employing Underage House Helps and Domestic ViolenceThe Federal Government and the Nigeria Police Force (NPF) have issued warnings against employing underage house helps, maltreatment of vulnerable persons, and other domestic violence. The warning was issued when the police paraded an Anambra-based lawyer, Adachukwu Okafor, who was recently arrested for allegedly assaulting her 10-year-old house help.
Read more »
Federal Government unveils new indigenous satellite Pay TV networkRelief, yesterday, came the way of subscribers, following the Federal Government’s unveiling of a new indigenous satellite Pay TV network, Silver Lake Television (SLTV), in Abuja. This, the government said, would serve as an alternative to existing ones and satisfy the yearnings of citizens, by giving them value for their money.
Read more »