The allegation that the federal government intended to access the pension fund to finance infrastructure projects unlawfully had been refuted. Wale Edun, the minister of finance and coordinating minister of the economy, announced after a recent meeting of the federal executive council that the federal government intends to borrow money for infrastructure development in the nation from the pension fund and other locally accessible sources. To leverage local money for national growth, he continued, they are concentrating on utilizing domestic financial resources, especially pension and life insurance assets. Wale Edun has since clarified following the uproar that surrounded the announcement, stating that the federal government has no plans to break the rules governing pension funds. He uttered.

,

"I have observed that rumors are circulating that the federal government intends to obtain the laborers' accumulated savings and pension contributions unlawfully."There is nothing more false than this. Like the majority of the financial sector, the pension business is heavily regulated. The types of investments that pension funds can and cannot make are governed by laws and restrictions. The federal government has no plans whatsoever to cross those boundaries or go beyond those restrictions, which are in place to protect employee pensions. 

"What was announced to the Federal Executive Council (FEC) was that there was an ongoing initiative, involving all the major players in the long-term savings industry, those that handle funds and are available over an extended period, to see how these funds could be used most efficiently, within the legal and regulatory framework, to drive investment in infrastructure, housing, and, of course, to find a way to give Nigerians access to affordable mortgages."In this setting, there is no attempt or thought given to offering less secure assets for accessible investment money, insurance funds, or pension funds.

 "No effort at all to raise the risk or decrease the returns that would otherwise be obtained."It's important to keep in mind that the federal government has the power to guarantee stocks when they are required to provide funds that will spur economic expansion, job creation, and poverty reduction. "The project is a dialogue, a test, and a challenge for the top minds in the financial sector to develop solutions that, while protecting long-term savings, do offer a path that can support the economy." As of March, Nigeria's total assets in pension funds were N19.6 trillion.