Presidency probes multibillion naira pension fraud

Posted by admin Goodluck Jonathan (2010-present), Presidency Sunday, October 16th, 2011

The Pension Office of the public service is under investigation over an alleged diversion of pension fund running into billions of naira.

Nigerian Tribune findings revealed that the fresh discovery of fund diversion is coming a few months after a similar fraud was unearthed when over one billion naira pension fund was discovered in private accounts.

The Presidency had, on a tip-off last month, commenced investigation of fund management in the civil service pension office, a development said to have revealed widespread fund mismanagement and diversion.

A source disclosed that the coordinating minister for the economy, Dr Ngozi Okonjo-Iweala, is overseeing the investigation reportedly being discreetly handled to minimise public image crisis for the government.

It was further learnt that to get to the root of the matter, a multi-national audit firm (names withheld) was engaged to audit the account of the pension office with preliminary reports pointing to massive systemic fraud.

While the audit company has not submitted its final report, Nigerian Tribune was told that plans are afoot to summon some past and current officials to explain their roles in the alleged disappearance of billions of naira from the pension office.

-Tribunewp_posts