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FG shuts NERFUND, sends workers on indefinite leave

By on June 18, 2016

The Federal Government on Thursday shut the operations of the National Economic Reconstruction Fund following the crisis that had crippled the agency in the last three weeks.

It also directed all the workers of the agency to proceed on an indefinite leave pending further action that would be taken on the crisis.

A notice on the shutdown of the agency was on Thursday issued by the Permanent Secretary, Federal Ministry of Finance, Mahmoud Dutse, to members of staff of the organisation.

The notice read in part, “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 close down 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.”

When contacted, the Media Adviser to the Minister of Finance, Mr. Festus Akanbi, confirmed the development.

He said in a telephone interview with our correspondent, “It is true, NERFUND has been closed down.”

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

The workers of NERFUND had last month disrupted business activities at the headquarters of the agency over allegations of mismanagement and embezzlement of funds running into about N700m.

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 agency.

 

[Punch]