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Chuks Udo Okonta and agency report
The Federal Government plans to relax the rules guiding the pension funds to pave way for investments, the Minister of Finance, Mrs Kemi Adeosun, has said.
The Minister said this when she appeared before the House of Representatives as part of its ongoing sectoral debate on diversification of the Nigerian economy.
Adeosun, said the federal government is being cautious as it plans to invest the over six trillion Naira pension funds.
“A lot has been said about the pension money. We have six trillion and people treat it as if it’s just available for the taking. This is people’s future savings, so we have to be very cautious about how we release pension money into investment.
“The first thing we have to do is to relax the rules cautiously and with many safeguards so we don’t lose pensioners’ money and cause a problem in the future.
“Definitely we are going to put things in place such as the infrastructure bond that we are releasing that will encourage pension funds to invest but invest safely,” she said.