Cooperatives Loan Applications Denied as Lagos Workers Accuse Sanwo-Olu of Funding APC Campaigns with Pension Funds
Governor Babajide Sanwo-Olu of Lagos State has been accused of borrowed deducted pension funds from workers salaries in the state to fund the All Progressive Congress (APC) campaign.
According to SaharaReporters, the Lagos State Government has refused to send the state government employees’ cooperative and loan deductions, as well as their contributed pensions, for the past two months.
However, the action goes against Section 11 Subsection 3 (b) of the Pension Reform Act (2014), which states unequivocally that: “The employer shall not later than seven (7) working days from the day the employee is paid his salary remit an amount comprising the employee’s contribution under Paragraph ‘A’ of this Subsection and the employer’s contribution to the Pension Fund Custodian specified by the Pension Fund Administrator or the employee himself.”
He continued by saying that the government did not also send cooperative deductions, which led to the majority of loan applications being denied.
The insider told SaharaReporters that “most state governors now exploited pension monthly deduction from worker wage for their political ambition, notably Lagos state government.”
The Lagos state government failed to send the pension deduction to pencom for more than two months. As an employee of the Lagos State Government, I asked for a loan but was denied.
“I was told, along with other people, that the money was borrowed by politicians, and who else than the state government could have done it? We had to pay our expenses right away but were unable to. Why would the impoverished endure such hardship? ”
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“I work under the state Ministry of Health and I have been working for 9 years. I’m not the only one affected sir. It was one of the cooperative society staff that gave us the information about why we didn’t get the loan we applied for, and that the cooperative management can not divulge the information.
“Meanwhile, I noticed that I haven’t received any alert from pension company that the Lagos state government have remitted the pension deducted from my salary for 2 months now.
“What need is for them to release the money belonging to cooperatives to them, and stop borrowing from pension deducted from staff salaries.”
The state administration has not yet responded formally to the allegations of the employees who attempted to borrow loans from their savings but were unsuccessful.
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