The National Insurance Commission (NAICOM) has moved to dispel rumours in circulation that Federal Government borrowed from the accumulated pension funds.
The immediate past Chief Executive Officer of NAICOM, Mr Olorunde Thomas, stated this at a public lecture of the Federal University,Lokoja (FUL) that the Federal Government did not borrow from the accumulated pension fund.
The theme of the lecture is: “Insurance Solution In Wealth Creation and Sustainability” as it concerns economic development of the country.
He stated that the economic challenges in the country did not translate to the Federal Government tampering with the pension funds.
“NAICOM was a statutory agency of the Federal Government established by the National Insurance Commission Act 1997 to regulate and supervise the Nigerian insurance sector and so serve as adviser to the government on all insurance related matters,” he added.
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