General

Nigerian Government sets up interministerial committee on pension liability

The Nigerian has approved the constitution of an inter-ministerial committee on pension liability to reconcile outstanding pension liabilities and proffer solutions to the lingering problems.

The Minister of Finance is the chairman. Other members of the committee include a representative of the Secretary to the Government of the Federation, representative of the Head of Service of the Federation, the Accountant General of the Federation, Director General of the Budget Office, Director General of PENCOM, and Director General of PTAD who will also act as Secretary.

The Committee is to:

1. Review and reconcile all pension liabilities of the Federal Government

2. Make recommendations as to what portion of the liabilities can be funded through budgetary appropriations, and

3. Suggest creative ways of funding the balance

It has four weeks to conclude its assignment and report back to the President.

It will be recalled that the Minister of Budget and National Planning, Senator Udoma Udo Udoma and the Finance Minister Mrs Kemi Adeosun, appeared before the House of Representatives on Thursday where they informed members of the approval by the President for the setting up of the Committee.

Source: Voice of Nigeria