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EFCC arrests pension DG, 3 others over N2.5bn fraud

By Soni Daniel, Northern Region Editor

The Economic and Financial Crimes Commission, EFCC, has arrested the suspended Director General, DG, of the Pension Transitional Arrangement Directorate, PTAD, Nelly Mayshak, and three others for N2.5 billion fraud.

Others arrested include Yoab Youssoufou, Patricia Iyogun, and Ruth Imonikhe.

Mayshak was suspended indefinitely in March over allegations of fraud uncovered in PTAD – an independent pension agency established in August 2013 to oversee management of pensions under the Defined Benefit Scheme for pensioners not transiting to the defined contributory scheme.

Investigations into the alleged fraud revealed that Mayshak misappropriated about N2 billion that was left in the pension’s account of the Head of the Civil Service, Nigerian Immigrations Service, NIS, Nigeria Customs Service, and Nigeria Prisons Service, NPS. She also allegedly embezzled about N500 million meant as take-off grant for PTAD.

The alleged fraud, which bordered on procurement fraud, was committed during her three-year tenure. In one instance, Mayshak allegedly approved N25,410,000 for supply of 121,000,000 litres of fuel in one day when in fact there was no corresponding storage capacity, as PTAD only had storage capacity of about 11,000 litres, which lasts for about a month.

Mayshak is alleged to have awarded several phony contracts to cronies and staff of PTAD, through which she used to enrich herself as they only served as fronts for her.

 

 

 

 

 

 


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