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PENCOM generates over N3 trln

30 November 2012, 08:45

Gombe - The Pension Commission of Nigeria (PENCON) on Thursday said it generated more than N3 trillion from contributors in the last eight years, Alhaji Mohammed Kabir, a Director in the commission, said.

Kabir, who disclosed this in Gombe state during a visit to Gov. Ibrahim Dankwambo, said that the commission had 5.3 million workers in its list of contributors across the country.

He said that he was in Gombe to engage the state governments into the contributory pension scheme.

He said that 21 out of the 36 states had complied with the pension reform scheme, while the remaining 14 were still at various stages of joining the programme.

"As part of our efforts to ensure that all states comply, we have decided to open zonal offices of PENCON. The office for the North East zone will be located here in Gombe," he said.

The Director said that the office would be inaugurated in February 2013, adding, "if we have office in Gombe, we will see what we can do to ensure full compliance of the state," he said

He said that as an institution, PENCON would ensure that pension assets being accumulated over the period was safe.

"Today, we have no case of fraud or an irregularity as far as the pension asset is concerned.

"Sir, our prayer is that we will appreciate it if implementation can be accelerated in Gombe state," he said.

In his response, Dankwambo, commended the commission for the achievement so far recorded.

"I am sure that is why the president found you very fit to have given you National honour."

He assured him that financial reforms in the state were being undertaken.

The governor said that pension reform was one area the state had gone far with.

He added that any innovation such as pension reform required a lot of mobilisation for support and understanding.


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