Reps summon CBN governor, AGF over N33b pension fund

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The Governor of Central Bank (CBN), Godwin Emefiele and the Accountant-General of the Federarion (AGF), Ahmed Idris are to appear before the House of Representatives on Tuesday.

The two are to clarify alleged remittance of N33billion pension deductions to the Federal Government by National Pension Commision (PenCom) before the House of Representatives ad hoc Committee investigating alleged irregularities in PenCom.

The Chairman of the Committee, Johnson Agbonayinma said noticeable discrepancies in the pension deductions claimed to have remitted by the Acting Director-General (DG) of PenCom, Aisha Dahir-Umar made the appearance of the two critical to the investigation.

While appearing before the Committee at the public hearing yesterday, the Nigerian Union of Contributory Pensioners (NUCP) accused PenCom and Pension Fund Administrators (PFAs) of several infringements.

In its presentation, the group regretted that the new pension scheme, has compounded, rather than alleviating problems faced by retirees under the Contributory Pension Scheme.

U.C. Ekpo and Emezuru Eugene signed the memorandum where PenCom was accused of failing to review contributors’ pension every five years as provided in Section 173 (3) of the 1999 Constitution (as amended).

The Union also observed persistent delays in payment of retirees’ benefits to over two years as well as lack of standardised template and transparency in computation of lump sums paid after retirement.

PenCom was also faulted for gender inequality in the payment of lump sums in contravention of the Pension Reform Act.

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