N33bn Pension scam: Reps summons Emefiele, AGF Idris

Following alleged discrepancies in the remittance of N33 billion pension deductions by National Pension Commission (PenCom) the House of Representatives has asked the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele and the Accountant General of the Federation (AGF) Ahmed Idris to appear before it

They are to appear before its Ad hoc Committee to Investigate the Activities of (PenCom) and its Administrators on Tuesday, April 9.

The Chairman of the committee, Hon. Johnson Agbonayinma (APC-Edo), gave the directive at a public hearing in Abuja on Thursday.

He said the invitation was necessary to clarify noticeable discrepancies in the pension deductions claimed to have been remitted by the Acting Director-General of PenCom Aisha Dahir-Umar.

He added that submissions by the apex bank governor and the AGF would guide the committee in wrapping up the investigative hearing.

According to him, the outcome of the investigation is in the interest of Nigerian pensioners and the public.

”This ad hoc committee invites the Governor of the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation (AGF) to appear before it on Tuesday, April 9, to clarify issues surrounding the money claimed to have been remitted by PenCom,” he said.

Meanwhile, the Nigerian Union of Contributory Pensioners (NUCP) has said that “the new pension scheme has compounded, rather than alleviating problems faced by retirees under the Contributory Pension Scheme.”

In a memorandum submitted to the ad -hoc committee by the union and signed by its leaders, Messrs U.C. Ekpo and Emezuru Eugene, NUCP attributed the problems faced by contributory pensioners to some of the faulty provisions of the 2014 Pension Act (as amended).

”From the look of things, the whole essence of the new pension scheme is to create capital for the Pension Fund Administrators (PFA) to maximise profits and enrich themselves.

”Worse still, PenCom, which is empowered to strictly enforce the Pension Reform Act in regulating the activities of PFAs and Pension Custodians, has become a violator of the same Act in many ways,” they said.

The union identified alleged unwholesome practices by PenCom to include lack of review of contributors’ pension every five years as provided in Section 173 (3) of the 1999 Constitution (as amended).

Others include persistent delays in payment of retirees’ benefits to over 2 years; lack of standardised template and transparency in computation of lump sums paid after retirement; and gender inequality in the payment of lump sums, which they argued, contravenes the Pension Reform Act.

The NUCP further noted that the sum total of anomalies and injustices perpetrated by PenCom in its implementation of the Contributory Pension Scheme led to suffering, pain and premature death of pensioners in Nigeria.

They, however, called on PenCom to confine itself to its functions as a regulator rather than meddling in the union’s activities. 

Comment With Facebook

Comments (69)

  1. I simply want to say I am just newbie to blogging and site-building and actually loved this web blog. Probably I’m going to bookmark your site . You amazingly have excellent article content. Cheers for sharing your web page.

  2. You commit an error. Write to me in PM, we will discuss.

  3. Your web site does not render correctly on my apple iphone – you might wanna try and repair that

  4. Have you ever thought about writing an e-book or guest authoring on other websites? I have a blog centered on the same ideas you discuss and would really like to have you share some stories/information. I know my viewers would appreciate your work. If you are even remotely interested, feel free to send me an email.

  5. Have you ever considered creating an ebook or guest authoring on other blogs? I have a blog based upon on the same subjects you discuss and would really like to have you share some stories/information. I know my visitors would appreciate your work. If you’re even remotely interested, feel free to shoot me an e mail.

  6. An intriguing discussion may be worth comment. I’m sure you should write much more about this topic, may well be described as a taboo subject but generally folks are too little to chat on such topics. An additional. Cheers

  7. I have been surfing on-line greater than 3 hours as of late, but I by no means discovered any fascinating article like yours. It’s beautiful worth sufficient for me. In my view, if all web owners and bloggers made good content as you probably did, the web will be a lot more helpful than ever before. “Learn to see in another’s calamity the ills which you should avoid.” by Publilius Syrus.

  8. An impressive share, I simply given this onto a colleague who was doing a little analysis on this. And he in truth bought me breakfast as a result of I discovered it for him.. smile. So let me reword that: Thnx for the deal with! However yeah Thnkx for spending the time to debate this, I really feel strongly about it and love studying more on this topic. If potential, as you develop into expertise, would you thoughts updating your blog with extra particulars? It’s extremely useful for me. Huge thumb up for this blog put up!

  9. I have learn a few just right stuff here. Certainly worth bookmarking for revisiting. I surprise how a lot attempt you set to make such a wonderful informative website.

  10. Good day! This is kind of off topic but I need some guidance from an established blog. Is it hard to set up your own blog? I’m not very techincal but I can figure things out pretty quick. I’m thinking about making my own but I’m not sure where to start. Do you have any tips or suggestions? Thanks

  11. Today, I went to the beach with my kids. I found a sea shell and gave it to my 4 year old daughter and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is entirely off topic but I had to tell someone!

  12. Hey there, just got receptive to your wordpress bog through Bing, and have found that it’s pretty educational. I will value should you decide retain this.

  13. I just want to share it with you that I am new to writing a blog and certainly liked your site. Probably I am prone to remember your blog post . You really have magnificent article information. Truly Appreciate it for expressing with us your domain post

  14. My spouse and i felt absolutely fulfilled Emmanuel could deal with his investigations via the ideas he was given out of your site. It’s not at all simplistic to simply continually be offering strategies that the others may have been making money from. We really grasp we have the blog owner to appreciate for this. The illustrations you made, the easy website navigation, the relationships your site aid to instill – it is all spectacular, and it’s making our son in addition to the family consider that this content is exciting, and that’s pretty important. Many thanks for everything!

  15. I went over this web site and I believe you have a lot of superb info, saved to my bookmarks (:.

  16. I just have to show you that I am new to writing a blog and extremely loved your page. Probably I am inclined to remember your blog post . You undoubtedly have superb article blog posts. Be Grateful For it for expressing with us the best internet page

  17. I’m really impressed with your writing skills and also with the layout on your weblog. Is this a paid theme or did you customize it yourself? Anyway keep up the nice quality writing, it is rare to see a nice blog like this one these days..

  18. i would love to do figure skating every week, this has been my hobby and a mild form of exercise for my body,

  19. Sapid Agency is a Search Engine Optimization company in New York City that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in NYC and many other local areas. Find more at

  20. Sapid Agency is a Search Engine Optimization company in New York City that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in NYC and many other local areas. Find more at

  21. Gday here, just started to be alert to your web page through yahoo, and discovered that it’s genuinely beneficial. I will truly appreciate if you decide to persist this idea.

  22. I simply wish to inform you that I am new to blog posting and absolutely adored your article. Very likely I am prone to store your blog post . You seriously have fabulous article information. Admire it for telling with us your internet site document

  23. I just desire to reveal to you that I am new to putting up a blog and genuinely admired your review. Probably I am likely to save your blog post . You literally have great article materials. Be Grateful For it for swapping with us your main domain page

  24. Gday here, just turned out to be familiar with your web page through Bing, and found that it’s pretty informational. I will value if you continue this post.

  25. Thank you for another crucial post. In which else could any person get that kind of details in such a total way of writing? I’ve a presentation incoming week, and I am around the lookout for such details.

  26. Howdy here, just got alert to your weblog through Yahoo and bing, and discovered that it is really beneficial. I’ll like should you decide continue this approach.

  27. I really intend to inform you that I am new to online blogging and clearly enjoyed your report. Quite possibly I am probably to bookmark your blog post . You truly have lovely article content. Acknowledge it for discussing with us your own website report

  28. Very interesting information!Perfect just what I was looking for! “If you could choose one characteristic that would get you through life, choose a sense of humor.” by Jennifer Jones.

  29. Only wanna comment that you have a very nice web site , I love the layout it actually stands out.

  30. The thing i like about your blog is that you always post direct to the point info.~,*.”

  31. I believe you have mentioned some very interesting details , thankyou for the post.

  32. Nice blog right here! Also your site lots up very fast! What web host are you the use of? Can I am getting your affiliate link on your host? I desire my site loaded up as fast as yours lol

  33. Does your blog have a contact page? I’m having trouble locating it but, I’d like to shoot you an email. I’ve got some ideas for your blog you might be interested in hearing. Either way, great website and I look forward to seeing it grow over time.

  34. I have seen a great deal of useful points on your web site about pc’s. However, I have the viewpoint that notebook computers are still more or less not powerful sufficiently to be a option if you often do jobs that require loads of power, for example video modifying. But for world-wide-web surfing, word processing, and quite a few other frequent computer functions they are just great, provided you do not mind the little screen size. Many thanks for sharing your thinking.

  35. I would like to express my gratitude for your kind-heartedness giving support to those people who actually need assistance with that concern. Your real commitment to passing the message all through came to be extraordinarily interesting and has surely encouraged guys and women like me to reach their goals. Your new important hints and tips signifies a whole lot a person like me and even further to my office workers. Thanks a lot; from all of us.

  36. Just wish to say your article is as astonishing. The clarity in your post is simply great and i could assume you are an expert on this subject. Well with your permission let me to grab your RSS feed to keep updated with forthcoming post. Thanks a million and please continue the rewarding work.

  37. Very nice post. I just stumbled upon your weblog and wished to say that I’ve really enjoyed surfing around your weblog posts. In any case I’ll be subscribing in your feed and I am hoping you write again soon!

  38. What you composed was very reasonable. However, think about this,
    what if you were to write a awesome headline? I mean, I don’t want to tell you how to run your blog, but
    suppose you added something that grabbed folk’s attention? I mean N33bn Pension scam: Reps summons Emefiele, AGF Idris | Education Tell is
    a little plain. You might glance at Yahoo’s front page and watch how they
    create post titles to grab viewers to open the links. You might add a related video or a related picture or two to grab people interested about everything’ve written. In my opinion, it
    would make your blog a little bit more interesting.

  39. Thanks for any other informative site. The place else may
    I get that type of information written in such an ideal way?
    I’ve a challenge that I’m simply now working on, and I’ve been at the look out for such information.

  40. Wow! At last I got a web site from where I can in fact take
    helpful facts regarding my study and knowledge.

  41. I’m typically to blogging and i really admire your content. The article has really peaks my interest. I am going to bookmark your website and preserve checking for new information.

  42. Absolutely composed content material , Really enjoyed examining .

  43. Sildenafil Without Prescription generic cialis overnight delivery Proscar Ogame Propecia Clomid 100mg

  44. Sapid Agency is a Search Engine Optimization company in New York City that provides SEO Services. Their proprietary SEO strategies help struggling websites and aspiring business owners to rank their websites higher in multiple search engines like Google , Yahoo and Bing. They provide local and gmb map ranking for businesses in NYC and many other local areas. Find more at @ 145 E 57TH NEW YORK, NY 10022, USA, +1 971 341 5608 USA

  45. Hi just wanted to give you a brief heads up and let you know a few of the images aren’t loading correctly.
    I’m not sure why but I think its a linking issue.
    I’ve tried it in two different browsers and both
    show the same outcome.

Comment here