ishiamu:
He added that when the project was completed, the government realized pensioners could not afford housing units in the estates because of the cost.
In a state where the minimum wage is below N20,000, the commissioner explained that the least expensive house in the estates was sold for N17 million; with others sold for N18 million, N34 million and N38 million respectively.

“When the former governor realized that the houses are too expensive for a pensioner to occupy, he directed that 50 per cent of the price of the houses should be slashed,” the commissioner said.
“That is how these houses are being sold now, and despite the 50 percent discount, the price is still high.
“The government initially thought that the pensioners could afford the houses, that is the truth,” he added in defense of the previous administration under which the current governor, Umaru Ganduje, served as deputy governor.

Now isn't this funny...a governor builds an estate for pensioners. Now these pensioners have families they cater for and earn less than N20,000 per month. And the least house is sold for N17million. Now the same state government claims that they weren't aware that the prices were too expensive for the pensioners.

I wonder the kind of government we have in this country. How can you pay people with families less than N20,000 and expect them to afford such luxury?

I've always said this and I'll continue to say it again. The difference between PDP and APC is their logo and party name. The individuals are the same crooks with the same crooked mindset.

Mykoj:
If it were 2 be a pdp member, EFCC will be fast 2 act on it but since it is an apc governor cum senator I don't believe any allegations will be levelled against him.
Anti-corruption crusade indeed.. Believe Buhari and his cohort of change @ ur own peril

Why will EFCC be after him? From the report, he didn't steal the money. It just a case of poor planning and last I checked that's not a crime in Nigeria.

Back to topic, rather than slash the price of the houses, let them sell them and refund the money with interest back to the pensioners account.

AZeD1:

Why will EFCC be after him? From the report, he didn't steal the money. It just a case of poor planning and last I checked that's not a crime in Nigeria.

Back to topic, rather than slash the price of the houses, let them sell them and refund the money with interest back to the pensioners account.

Even at dat if it were 2 b an opposition governor I am sure d efcc will still want 2 flex dere muscle on him.

Some of the money he used to build schools for them in Niger Republic. He has since then become a funny senator and a Fulani herds-advocate.

Mykoj:

Even at dat if it were 2 b an opposition governor I am sure d efcc will still want 2 flex dere muscle on him.

Stop seeing everything from a political lens.

This post is trash!!
Pension fund relationship with pensioner is to pay them their pensions. Not to house them!

If pension fund managers invest the fund in an estate, they must sell or run the estate for profit and nor for charity.
It is only when the fund is making profits that it can be able to continue paying the pensioners and there is a guideline on the percentage allowed for each type of investments. Pension fund are forced by law to ensure there is diversity in its investments across several sectors of the economy so that when there is a burst in one sector, the fund will still be able to compensate with the growth in other sector.!

ishiamu:
Kwankwaso spent N4.1billion pension fund to build houses pensioners can’t afford – Official




The immediate past Kano State Governor, Rabiu Kwankwaso, spent N4.1 billion of pensioners’ funds building houses the retired workers could not afford, an official has said.
The Kano State Commissioner of Information, Mohammed Garba, stated this on a Hausa discussion programme on Freedom Radio on Saturday evening.
Mr. Garba said the ex-governor, now Senator, borrowed the N4.161 billion from the pension fund to build Bandirawo and Amana Housing Estates with the aim that the pensioners could benefit from the houses.
He added that when the project was completed, the government realized pensioners could not afford housing units in the estates because of the cost.
In a state where the minimum wage is below N20,000, the commissioner explained that the least expensive house in the estates was sold for N17 million; with others sold for N18 million, N34 million and N38 million respectively.
“When the former governor realized that the houses are too expensive for a pensioner to occupy, he directed that 50 per cent of the price of the houses should be slashed,” the commissioner said.
“That is how these houses are being sold now, and despite the 50 percent discount, the price is still high.
“The government initially thought that the pensioners could afford the houses, that is the truth,” he added in defense of the previous administration under which the current governor, Umaru Ganduje, served as deputy governor.
Mr. Garba said to resolve the complaints of the pensioners, many of who have not been paid their entitlements because of the former administration’s actions, the government had a meeting with the retired workers where it was agreed that a number of housing units in the estates would be allocated to them as part of their entitlements.



http://www.premiumtimesng.com/news/headlines/192145-kwankwaso-spent-n4-1billion-pension-fund-to-build-houses-pensioners-cant-afford-official.html

"He added that when the project was completed, the government REALIZED pensioners could not afford housing units in the estates because of the cost." This people can carry us play oh.

Mykoj:
If it were 2 be a pdp member, EFCC will be fast 2 act on it but since it is an apc governor cum senator I don't believe any allegations will be levelled against him.
Anti-corruption crusade indeed.. Believe Buhari and his cohort of change @ ur own peril

What he did is a crime in this country yet this change mantra will look the other way. This is pure case of highhandedness + money diversion because the reason for the fund was clearly stated +misappropriation of fund and gross abuse of office. So why is it that his own very immediate past deputy is the one correcting his anomalies. Yeye party full of liers

AZeD1:

Stop seeing everything from a political lens.

So I should put on my religious or ethnic lens abi Yeye

Almost all our rulers(we have no leader in Nigeria ) are after their own pocket. I feel for the poor.

Lol, they just jump to go and build houses.....

Now they have used style to settle their pockets with these poor pensioners money. Now they can't receive their entitlements, neither can they afford the houses!

And their brother claims to be fighting corruption, he won't see this one oooo, na south south dia eye dey chook go.

Trial and error government! Rubbish!

ThisMeansWAR:
that guy is a thief

Why did you say that? He has not been accused of stealing, he has not been accused of not using the loan judiciously so what is your point?

repogirl:
Lol, they just jump to go and build houses.....

Now they have used style to settle their pockets wueth these poor pensioners money. Now they can't receive their entitlements, neither can they afford the houses!

And their brother claims to be fighting corruption, he won't see this one oooo, na south south dia eye dey chook go.

Trial and error government! Rubbish!

How?

dustydee:

How?

Question for the gods...as if you don't know how it is done!

Whether they did not know how much the houses will cost before they went to be building overpriced 17million naira houses!

repogirl:
Question for the gods...as if you don't know how it is done!

Whether they did not know how much the houses will cost before they went to be building overpriced 17million naira houses!

I don't know how it's done and the writer did not suggest that money was stolen. What I gathered from the story was that the houses built were not low cost houses that the pensioners could afford. I am often careful not to jump to conclusions.

dustydee:

I don't know how it's done and the writer did not suggest that money was stolen. What I gathered from the story was that the houses built were not low cost houses that the pensioners could afford. I am often careful not to jump to conclusions.

lol, so let's look at this with common simple sense.... Before they built the houses, they did not calculate how much the houses would be sold for?

They just went and built and later realised that it turned into 17 million naira houses? Lol? The more I think of it, the funnier it gets!

You can choose to be blind to it but a large chunk of that money disappeared and we all know where it disappeared into.

These people are not in tune with reality of things in Nigeria. What happened to building houses that are not above N3 million and with as low as N1.5 million? But corruption wouldn't allow them to do what is appropriate. Thank God he used their pension fund for something visible, many of his colleagues simply made the money disappeared.

repogirl:
lol, so let's look at this with common simple sense.... Before they built the houses, they did not calculate how much the houses would be sold for?

They just went and built and later realised that it turned into 17 million naira houses? Lol? The more I think of it, the funnier it gets!

You can choose to be blind to it but a large chunk of that money disappeared and we all know where it disappeared into.

Common sense? You still haven't told me how this translates to stealing. They may not have properly evaluated the final cost of the house and how affordable it will be for the beneficiaries, that I agree but no evidence as at yet to suggest that the money was stolen. The houses were built and no one suggested that the the amount spent in building the houses was inflated.

dustydee:

Common sense? You still haven't told me how this translates to stealing. They may not have properly evaluated the final cost of the house and how affordable it will be for the beneficiaries, that I agree but no evidence as at yet to suggest that the money was stolen. The houses were built and no one suggested that the the amount spent in building the houses was inflated.

OK.....because they will come and say it in public abi?

Gosh! I give up.

repogirl:
OK.....because they will come and say it in public abi?

Gosh! I give up.

I thought you had inside scoop, phew! I give up.

Mykoj:

So I should put on my religious or ethnic lens abi Yeye

Put on the logical lens also know as common sense

Let me stop laughing for a minute and ask Nigerians: do you think a governor or the president for that matter has the entire money of his state or the country at his disposal to use as he likes? The problem of Nigeria is her people. They do things as per tradition, not according to reason

You first built, then realized that the are expensive.

May be party affiliation or lack knowledge otherwise I see no reason EFCC shouldn't be after him.

What do you understand by misappropriation of Public Fund? Is it a offence in Nigerian Law? Even a secondary school level student would know that most state pensioners cannot afford a house of 17mil. If he wasn't dubious, he should have discussed with the pensioners and unanimous agreement reach, with legal backing, before redirecting their money into such Business. Now he is out as Governor, those pensioners are not paid, their children will drop out of school or they won't get school of their choice or not be able to pay for hospital bill, because some Dumb head decided to do business with their money.

With what I read on Nairaland as people's post, I just SMH, even the new generation are empty brains and lack morals. How can someone post 'at least he didn't steal the money' is that how bad our reasoning has gone?

AZeD1:

Why will EFCC be after him? From the report, he didn't steal the money. It just a case of poor planning and last I checked that's not a crime in Nigeria.

Back to topic, rather than slash the price of the houses, let them sell them and refund the money with interest back to the pensioners account.

centje:
May be party affiliation or lack knowledge otherwise I see no reason EFCC shouldn't be after him.

What do you understand by misappropriation of Public Fund? Is it a offence in Nigerian Law? Even a secondary school level student would know that most state pensioners cannot afford a house of 17mil. If he wasn't dubious, he should have discussed with the pensioners and unanimous agreement reach, with legal backing, before redirecting their money into such Business. Now he is out as Governor, those pensioners are not paid, their children will drop out of school or they won't get school of their choice or not be able to pay for hospital bill, because some Dumb head decided to do business with their money.

With what I read on Nairaland as people's post, I just SMH, even the new generation are empty brains and lack morals. How can someone post 'at least he didn't steal the money' is that how bad our reasoning has gone?

When your employers pay money into your pension account, do you what the pension administrators do with the money?