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The initiative to explore the savings of Nigerian workers and senior citizens, who live off them in retirement, to actualise the government’s funding plan could put the livelihood and survival of many in jeopardy, Atiku said in a Twitter statement on Wednesday.“In particular, the Federal Government must not act contrary to the provisions of the extant Regulation on investment limits to wit: Pension Funds can invest no more than 5% of total pension funds’ assets in infrastructure investments.
It’s essential to acknowledge that news production incurs expenses, and we take pride in never placing our stories behind a prohibitive paywall. “Pension Fund Assets can be invested in bonds and other securities issued by the Federal Government of Nigeria without any limitation. No more than 2.0% of Pension Fund Assets can be invested in bond and debt instruments issued by any one State Government,” Sections 5.1 and 5.