PenCom denies violating its establishment act

The Nigerian Pension Commission, PenCom, has denied the alleged violation of the commission’s act in running the affairs of the agency by its management.

The alleged violation include promoting some management staff, creating more directorates within the commission, increasing the commission’s end of service benefit by 300% as well as unduly creating impasse in the matter of appointment and resumption of duty of members of board of the commission.

This was contained in the House of Representatives’ resolution in its sitting of November 29th 2018 demanding for an urgent need for government to constitute the PenCom Board as well as an Adhoc Committee by the House to investigate the alleged violation.

Subsequently, an Adhoc Committee was constituted on the 11th of December

In her presentation before the Adhoc Committee on Thursday, the Acting Director General Pension Commission of Nigeria, Aishatu Dahiru Umar in her presentation described the allegation as untrue and misrepresentation of facts on the activities of the agency.

Our submission is that the allegations are all false and unfounded. The facts on the ground do not in any way indicate any case of contravention of PRA 2014 by the Commission.

For us in the commission the PRA 2014 it is, as most of our colleagues called it our Bible. We work by it, it controls every decisions we take, so we can never violate it.Hajiya Aisha emphasized.

She however maintained that the contributors’ funds, estimated at over eight trillion Naira is safe and secure and continue to be so, so long as the commission remain in charge of regulating the pension sector.

Hajiya Aisha revealed that The Pension funds can never be stolen. No RSA holder has ever reported that his money is missing and it is never going to be missing.

So before me, during me and after me the funds are forever safe there is no fear about that, because nobody has any access to go and steal it is not possible, we can assure you of that.

The President of the Nigerian Labor Congress in his submission at the hearing called for an urgent constitution of the board of the Pension Commission, to ensure prudent management of the workers’ pension contribution.

Mr. Ayuba Wabba who demanded a stringent penalty on the violators of Pension Act 2014, said workers must get their entitlements as at when due to reduce corrupt tendencies among public servants.

Let me say emphatically that there are employers that deduct and don’t remit. So clearly is a clear violation of the provisions of pension act, for any employer to deduct both employer and employee contributions and not remit is a violation. Therefore we want a very stringent measures to be taken including paying interest were such a situation is actually identified. Wabba added.

Earlier, the Chairman of the adhoc committee, Johnson Agbonyima from Edo State said the National Assembly and the Executive Arm would continue to work out and implement legislations to ensure transparency and accountability in the country’s pension system.

Source: Voice of Nigeria