The Federal Government on Thursday shut
down the operations of the National Economic
Reconstruction Fund following the crises that
have crippled the agency within the last three
weeks.
down the operations of the National Economic
Reconstruction Fund following the crises that
have crippled the agency within the last three
weeks.
It also directed all workers of the agency to
proceed on indefinite leave pending further
action on the agency.
A notice on the shut down 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 made available to our
correspondent which was signed by Dutse,
reads, “Following recent developments in your
organization and failure to reconcile the
differences between the executive management
and the entire staff, inspite 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, also
confirmed the development.
He said in a telephone interview, “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 leveled
against the current interim management of the
agency
The workers of NERFUND which is under the
ministry of finance 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 over
the status of the organisation.
