The craving by the Federal Government to leverage workers’ N20 trillion pension funds, among other sources of funds in the savings industry, to presumably ramp up infrastructure and housing will not augur well for workers and the economy. Previous governments did not show enough reason to be trusted with borrowed funds and the present administration has not demonstrated any difference. It is, therefore, too risky to allow government to tamper with the only lifeline workers have for their post-retirement era. We join others in cautioning this government against going for the money.

 It was the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, who leaked the plan at the Federal Executive Council (FEC) meeting, to draw in all major stakeholders in the long-term savings industry, whose funds may be available to drive investment. He was particular about funds that are available over a long period, of which the contributory pension funds are major.