FG shuts NERFUND over internal crises

President Buhari

The Federal Government has stopped the operations of the National Economic Reconstruction Fund following the crises that have crippled the agency within the last three weeks.

Uba Group

The FG also directed all workers of the agency to proceed on indefinite leave, pending further action on the agency.

The notice of the indefinite sit-at-home order was issued and signed by the Permanent Secretary, Federal Ministry of Finance, Mr. Mahmoud Dutse to members of staff of the organisation.

The notice read, “Following recent developments in your organisation and failure to reconcile the differences between the executive management and the entire staff, in spite of the ministry’s intervention on the matter, the Federal Ministry of Finance has decided to shut your agency with immediate effect to forestall a further breakdown of law and order.

“Consequently, all members of staff should proceed on an indefinite leave, pending further instructions from the ministry.”

The FG had through the Ministry of Finance set up a committee to investigate the allegations of corruption leveled against the current interim management of the agency

The workers of NERFUND had, last month, disrupted business activities at the agency’s headquarters over allegations of mismanagement and embezzlement of funds running into about N700 million.

The workers, who later took their protest to the headquarters of the ministry of finance, had lamented the failure of successive governments to make a pronouncement on the status of the organisation.