BMO blows hot, tells PDP to educate itself on investment principles - Daily Post Nigeria

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BMO blows hot, tells PDP to educate itself on investment principles

The group was reacting to PDP’s criticism of the National Economic Council recent proposal that the Federal Government utilise 20% of the nation’s accumulated pension fund to finance critical infrastructure.

The group recalled that between 2005 and 2011, the Pension fund generated 1.025trillion Naira out of which N751.4billion was expended on pension matters and N273.9billion was stolen by PDP pension administrators. “Now, a non-partisan body of elected stakeholders has proposed a profitable use of this huge but idle funds, and PDP is up in arms

“By way of education, pension funds are not kept in a savings account, they are modelled to be invested in investment instruments across the finance and investment spectrum. These instruments include, but are not limited to, treasury bills, bonds, equities and money market instruments.

 

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PDP must not reply these ignorant 🤡 Does the BMO know what the rates for tbills are now?5.5% Does the BMO know how high inflation is now? 11.6% So any PfA who takes my pension funds that I contributed by myself and invests in this yeye deal by Egbekegbe should expect to be sued

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 /  🏆 11. in ZA

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