Minister of Finance, Kemi Adeosun, has directed all staff of the National Economic Reconstruction Fund (NERFUND), to immediately return to their duty posts as the crisis within the organisation has been resolved.
Staff of the agency were directed in a circular signed by the Permanent Secretary, Federal Ministry of Finance, Dr. Mahmoud Isa-Dutse, on June 15, 2016, to stay away from work to forestall further breakdown of law and order as a result of disputes between the executive management, senior management and other staff of the organisation.
NERFUND was established in 1989 to provide medium to long-term financing to viable small and medium scale production enterprises to increase the quantity of goods and services available for local consumption and export, provide needed employment, expand our production base and add value to the economy.
The Fund has so far extended credit facilities for 2, 829 projects valued N9.5 billion between 1989 and 1999. All Nigerians are qualified to apply for NERFUND loans either as individuals, Associations, Cooperatives or Corporate Entities/partner institutions.
Mrs Adeosun was herself locked out of office on Monday, June 20 during a protest by staff of the Federal Ministry of Finance, Office of the Accountant-General of the Federation and the Budget Office of the Ministry of Budget and National Planning.
The workers were demanding the payment of a special overtime allowance totalling N1.2 billion and the removal of the minister.
