Lagos — Eleven officers in the finance, legal and audit departments of the Nigerian Railway Corporation, NRC, have been indicted over N1 billion missing pension fund.
Sources said that the money was stolen over a period of three years.

Reports about the missing fund were said to have come to public domain  following an internal investigation conducted by the management of the corporation on the pension fund.
Investigations revealed that the management instituted an internal enquiry into the management of the corporation’s pension fund during which these shocking discoveries were made.

At press time, it was discovered that the management of the railway corporation headed by the Managing Director, Adeseyi Sijuwade, had forwarded the report to the new chairman of the NRC board and immediate past chairman of the People’s Democratic Party, PDP, Alhaji Bamanga Tukur.

It was learnt that the said money was diverted by some officials of the corporation through acts of fraud, financial recklessness and misappropriation.
Insider sources at the NRC head office in Lagos said the names of the suspected culprits and recommendations on how to recover the missing fund from the culprits were part of the report.