The
Senate Committee on Investigation of Pension Administration has
uncovered about N273.9b idle cash in seven major pension offices.
It
has recommended arrest and prosecution of the Chairman of the Pension
Task Team, Abdulrasheed Maina and two others. It also wants other
members of the team found culpable in the mismanagement of pension funds
tried.
The two officials of the Task Team recommended for trial along with Maina are John Yusuf and B.G. Kaigama.
The
committee has asked the government to compel the Pension Task Team to
submit its finical records and transactions from inception to date for
auditing by the Auditor-General of the Federation.
These
recommendations are contained in the 108-page report of the committee,
which is expected to be submitted today to the Senate.
In
the report, which was exclusively obtained by our correspondents last
night, the committee said the Auditor-General of the Federation should
be allowed unhindered access to all the pension financial records and
account books for proper auditing.
The uncovering of the N273, 941, 568, 915.55b in pension offices appears a major breakthrough.
The
affected pension offices and the idle funds are as follows:
Military(N23,532, 339,033.98), DSS/ NIA (N36,121,396,662.73),
Police(N43,213,213,062,.63); Civilians (N58,715,239,159.66); CIPPO
(N27,797,021,906.44); Parastatals(N75,783,682,992.99);
Universities(N8,778,676,097.12).
The
report reads in part: “That the total unspent pension funds balances in
all the pension offices of the Federal Government amount to N273, 941,
568, 915.55b.
“That
there are indicators of massive fraud and embezzlement of pension funds
in the years 2000 to 2007 which require comprehensive audit and
forensic investigation. This is because there were no credible actions
for the sensitisation and validation of pension payroll during these
years.
“The
number of pensioners on the payroll of the Pension Department in the
Office of the Head of the Civil Service of the Federation alone was
above 200,000 during these years. This was reduced to about 141,000
names at the first credible effort at pensioners biometric verification
by the Pension Department in 2009.
“That
the outstanding pension fund balances of N273, 941, 568, 915.55b in all
pension offices of the Federal Government be moopped up by the
Accountant-General of the Federation and be used to settle all
outstanding pension entitlements.
“The
activities and operations of the PFAs should be closely monitored by
the National Pension Commission to ensure the attainment of the noble
objectives of the Contributory Pension Scheme.
“The
practice of different Ad Hoc Teams co-opting officers of law
enforcement agencies and using them for inappropriate duties should be
stopped forthwith. Law enforcement officials should only be invited to
perform their statutory functions when necessary.
“All
officers from the EFCC, ICPC and the SSS, who were co-opted by the
Pension Task Team and found to have colluded, aided, and abetted
corruption, diversion and siphoning of pension funds and have been used
for inappropriate duties should be withdrawn, investigated, arrested and
prosecuted accordingly.
“That
the constitutional provision of Section 173(3) which states that
pension should be reviewed every five years or whenever there is review
of the remuneration of public servants should be strictly adhered to.
Harmonization of pension should be done to ensure uniformity of pension
amount irrespective of years of retirement.”
The
report said: “That the Chairman of the Pension Task Team, Mr.
Abdulrasheed Abdullahi Maina, John Yusuf, B.G. Kaigama and all the
members of the Pension Task Team involved should be arrested and
prosecuted by the Nigeria Police Force for the crimes of fraud,
embezzlement, misappropriation, misapplication, illegal virement,
contract splitting, award of contracts to non-existing companies, award
of contracts without appropriations and outright stealing of pension
funds. And the stolen funds should be recovered from them.
“That
Mr. Abdulrasheed Abdullahi Maina was noted to have taken over all the
Federal Pension Offices, except the Military Pensions Board, FCT, and
Pension Boards of Federal Parastatals.
“That
the public funds expended for verification exercises were ten times
more than the amount of funds saved from the verification exercises. The
amount spent on the verification exercise is sufficient for payment of
more than half of one year’s pension.
“That
the frequent verification exercises, which are often done without
convenient arrangement, have put the pensioners into untold sufferings
and death.”
The
report also faulted the EFCC for adopting a selective method for the
arrest and trial of those who allegedly looted pension money.
The
committee said: “That the EFCC has been selective in the prosecution
of officials who looted, misapplied, siphoned, embezzled, and
misappropriated pension funds, even when numerous petitions with
incontrovertible evidences are submitted to the agency.
“EFCC
was also observed to have discontinued pension fraud investigations it
commenced when weighty evidences thereto linked the Chairman and members
of the Task Team.”
The report indicted commercial banks for collaborating in the looting of pension funds.
It
added: “That the banks were handy collaborators in the unauthorized and
illegal opening of government accounts, change of signatories, transfer
of funds, deposit of government funds and many other unethical
financial transactions.”
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