By ANDREW OJIEZEL
WORRIED by the plights of many pensioners in the country, the President of Association of Senior Civil Servants of Nigeria (ASCN), Bobboi Kaigama has warned agency saddled with the responsibility of managing the funds not to tamper with N5.3 trillion pension funds.
Giving the warning in the just-concluded 3rd Quadrennial Delegates’ Conference, held recently at Abeokuta, Kaigama expressed the displeasure of the Association on the pitiable condition many pensioners are being subjected to before they could access their entitlements.
Kaigama, who disclosed that the contributory pension funds have now accumulated to N5.3 trillion, asked government at all levels to look elsewhere to raise fund for their projects rather than toying with workers’ future.
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”Comrades, the workers contributory pension funds as at the last count has accumulated up to N5.3 trillion. As you are all aware, this is purely workers’ money meant to be used to offset their terminal benefits when they retire. We are, however, worried and disturbed that government functionaries are now making persistent efforts to lay their hands on the contributory pension funds in the name of funding infrastructure.”
Speaking further, Kaigama said, “Our officials need to understand that the pension funds are not idle funds, but are funds invested mainly in safe instruments like money and bonds markets. We make bold to say that our country is not yet ripe for utilizing pension funds for building infrastructure. This is because of the very weak institutions that underpin the Nigerian economy. Our federal, states and local governments are corrupt and incompetent in recovering public funds. We therefore strongly advise government to look elsewhere to raise funds for their projects.”
Kaigama, who also is the National President of Trade Union Congress (TUC), lamented that many workers are being subjected to modern slavery expressed concern over what he described as precarious position of salary payment in many states of the federation.
He argued that state governors do not have any excuse to justify the non-payment of salaries and allowances of their respective workers.