The Federal Government on has shut down the operations of the National Economic Reconstruction Fund following the crises that has crippled the agency within the last three weeks. It has also directed all workers of the agency to proceed on indefinite leave pending further action on the agency. A notice on the shutdown of the agency was issued on Thursday by the Permanent Secretary, Federal Ministry of Finance, Mahmoud Dutse to members of staff of the Organisation.
The Permanent Secretary says the shut down became necessary following recent developments in the organization and the failure to reconcile the differences between the executive management and the entire staff in-spite of the ministry’s intervention on the matter. He says the closure is to forestall a further
breakdown of law and order and consequently, all members of staff should proceed on an indefinite leave pending further instructions from the ministry.
Media Adviser to the Minister of Finance, Festus Akanbi says government has set up a committee to investigate allegations of corruption leveled against the current interim management
of the agency. 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 700 million naira.