Lagos - The Centre for Public Accountability has
(CBA) called for an urgent probe into the National Pensions Commission (PENCOM)
following a string of allegations.
Among these are mismanagement of fees on pension assets,
which resulted in the alleged failure to account for N42 billion, illegal
application of regulatory powers and wasteful expenditure.
Olufemi Lawson, CPA Executive Director alleged the “long
list of infractions, mismanagement and maladministration” ongoing at the
commission under the leadership of Director General Chinelo Anohu-Amazu.
He pointed out the Pension Reform Act was enacted in 2004
for sustainable management of retirement benefits of citizens who worked within
the public or private sectors of the federation.
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As at today, he said, the accumulated pension assets stand
at about N5,4 trillion.
“From that period to date, we want to assert that the
commission has never been in the worst state than it is today,” said Lawson.
Lawson nonetheless lauded the efforts by the administration
of President Muhammadu Buhari, who has been petitioned, in the fight against
He said for the ongoing anti-corruption war to be
successful, Nigeria must ensure there were no “sacred cows” and “no stone is
“We are writing this petition, as patriotic Nigerians, and
stakeholders in the Nigeria project, as we wish to call on your good office, to
in the interest of our nation, order an immediate probe into the allegations of
activities of the PENCOM,” read a petition.
The Economic and Financial Crimes Commission and the
Independent Corruption Practices and other related offences related Commission
have been urged to investigate.
- CAJ News