Breaking News

Fraud allegations in pension scheme product of ignorance— PENCOM boss

Kindly Share This Story:

By Egufe Yafugborhi & Chijioke Nwankpa

PORT HARCOURT— NATIONAL Pension Commission, PENCOM, yesterday, said the allegations of fraud in the new contributory pension scheme is a product of ignorance.

Director General of PENCOM, Mrs. Aisha Umar, took a swipe at critics of the new scheme at the agency’s fourth quarter forum for states held in Port Harcourt, Rivers State.

Nigerian elder statesmen on the queue during Pension verification exercise.

Umar, represented by the Head, States Operations Department, PENCOM, Dr. Dan Ndackson, said: “The scheme is, as structured, self-insured and difficult for fraud to be perpetrated.

“Every kobo of the trillions in this fund are in somebody’s name and nobody has ever come up to say that they have stolen money from his or her account.”

She insisted that the current challenges were not with the contributory pension scheme, but inherited problems.


Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!