By Abu Nmodu,
Slug: Niger Sets up Committee to recover N5.799 billion Pension Fund stolen in 2007-2015
Niger state government has set up a committee to recover N5.779 billion of deducted funds not remitted to the state’s pension board under the Contributory Pension scheme allegedly stolen from May 2007 to march 2015.
The Governor of Niger state disclosed this while declaring open a three day sensitization workshop on effective pension management and administration in Niger state aimed at sensitizing the pension desk officers in the Ministries Departments and Agencies and other stakeholders in the state.
Governor Sani Bello represented by the Deputy Governor Alhaji Ahmad Muhammad Ketso said “ Government has carried out a forensic audit of the transactions of Contributory Pension Scheme in the state during the period under review that is 2007-2015 and established that the sum of N5,779 billion was clearly verified as funds not remitted to pension board”.
In view of the discovery the Governor disclosed that a committee has been set up under the leadership of the deputy Governor to ensure that the stolen funds were recovered to the coffers of government for the benefits of the worker at retirement.
“Let me therefore reassure our pension contributors and indeed all that I will ensure that every amount of money deducted as employer’s /employees contributions since the introduction of the CPS in 2007 till date will be accounted for and applied judiciously” the Governor declared.
While assuring that the government will use all the funds in accordance with the law and has made monthly payment a first line charge, he disclosed that since inception of the government the sum of N2.6 billion has been approved to pay outstanding gratuities of the retirees in the state under the old pensin scheme.
Also explaining the commitment of government to retirees’ welfare , the Director General of the state’s pension board Mallam Usman Tinau Muhammad stated that the N2.428 billion was released and used to pay 1,616 pensioners their gratuities from march last year to date in four batches for both the state and local government retirees.
He stated that despite the landmark achievements in settling outstanding gratuities under the old scheme there were still complains from the retirees under the new CPS because of the policy summersault following the stoppage of CPS in march 2015 before the coming of this administration.