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Reps C’ttee demands explanation on IGR spending by PENCOM

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Reps C’ttee demands explanation on IGR spending by PENCOM

The House of Representatives Committee on Pensions has frowned at the Nigeria Pension Commission (PENCOM) for spending it’s Internally Generated Revenue (IGR) without the approval of the National Assembly.

The Chairman of the Committee Rep. Alhassan Rurum (APC-Kano) expressed dissatisfaction with the expenditure at an investigative hearing on Thursday in Abuja.

He said that manner in which the finances of PENCOM were being managed by the commission’s management called for concern.

Also, the Deputy Chairman of the committee, Rep. Bamidele Salam (PDP-Ondo) said that the management of PENCOM must explain the spending of N2.13 billion of the IGR on administrative activities without approval.

READ ALSO: PENCOM plans PFA transfer window

“The committee also demands that the PENCOM management explain the spending of N369 million of its IGR on ‘Miscellaneous Expenses.

“The spending of N731 million of its IGR on capacity building and the spending of N1.8 billion Operational and Monitoring Expenses’, among other huge expenses, all without the approval of the National Assembly,” he said.

Responding to the queries, the acting Director-General of PENCOM, Hajia Dahir-Umar, attempted to make verbal clarifications of the issues raised.

According to her, it is the right of PENCOM to start spending its IGR without further recourse to the National Assembly as soon as the president signs the Appropriation Act into Law.

READ ALSO: PenCom embarks on verification to ease pension payment

Her verbal explanations were, however, not accepted as the committee insisted on sighting documented approvals and evidence of appropriation for the 2019 spending of PENCOM.

The committee gave the commission up until Monday, Dec. 9 to present to the committee the approvals for 2019 spending.

The committee also demanded the cash flow analysis for the IGR already spent and other necessary documents for clarity.

vanguard

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