The Federal Government on Thursday said it had blocked loopholes in the old pension administration scheme, where over 15,000 ghost pensioners were included in government payroll system.
The Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, said this at a forum for stakeholders organised by the Pension Transitional Arrangement Directorate, where pensioners and other stakeholders in the pension system gathered to interact.
According to her, the Federal Government has been able to save N2.1bn annually in less than two years after the establishment of PTAD.
At the event, the Director-General of PTAD, Ms. Nellie Mayshak, said the major success of the agency was checking dubious financial transactions in commercial banks, which pensioners’ funds were hitherto channelled for personal gains.
Mayshak said PTAD, through its establishment, has taken advantage of the ICT to consolidate on the erstwhile pension offices, comprising Civil Service, Pension, Police Pension, Customs, Immigration and Prisons pension/pension boards of trustees of all parastatals funded by the Federal Government.
PTAD, an agency of the Federal Government, was established in August 2013 in compliance with the provisions of Section 30 sub-section (2) (a) of the Pension Reform Act of 2004 (now replaced by the Pension Reform Act,2014.
Okonjo-Iweala said 14 individuals, whose identity she kept secret, were currently standing trial in the law court over the pensions probe initially carried out by the National Assembly in 2013, in which N32bn was allegedly squandered.
While receiving commendations for bringing sanity into the pension scheme, Okonjo-Iweala said through the Government Integrated Financial Management Information Systems, PTAD had been able to consolidate several accounts in commercial banks, holding pension funds, that had been prone to looting to three or four.
To further boost transparency and accountability in the pensions system, the minister said a nationwide verification process and biometric data capture for all pensioners had commenced with Police Pensioners from the North and South-West completed.
“These interventions have led to concrete, real life improvements in the lives of our pensioners. For example, the Civil Service Pension, which has the bulk of pensioners managed by PTAD, has seen the removal of over 15,000 duplicated or ghost pensioners from its payroll, leading to savings of about N2.1bn annually,” she stated.
But representatives of the Nigeria Union of Pensioners, who were also at the forum, urged government to offset about 42 months pension arrears, including the 33 per cent pension increase. Click to signup for FREE news updates, latest information and hottest gists everyday
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Okonjo iweala is a disgrace to this nation.
ReplyDeleteOkonjo iweala, anyttime you lied to Nigerians you will tell them that you have the record. So all these years as a finance minister you have been paying this money and you don't know. This is just an evidence that you talk form both sides of the mouth.
ReplyDeleteThe funny thing about Madam Okonjo Iweala is that she is fond of brandishing figures without supporting it with any form of logical thinking.
ReplyDeleteSometimes I wonder how she really became a Minister for a Country of brilliant minds and brains like Nigeria.
She has never being able to provide any form of details that will support this type of savings. This is Civil Service and not Private Sector. So what kind of Pension figures per individual are we really taking about here.
Please can someone in the World Bank help us coach our Madam on simple basics of statistical analysis.
Dia ris God oooo......
15,000 ghost pensioners were included in government payroll system.why won''t this happen when corrupt officials are treated with kidgloves and later their loots are being Celebrated eg. Bode Gorge.May God save us.
ReplyDeleteNgo babe, what is going on with you... look??? what the transformation agenda has transformed you into; a mere compound liar
ReplyDeleteabeg 2,100,000,000/ 15,000=140,000. and you have 14 out off 15,000 standing trail. were is Yusuf the N23b pension thief. you talk of real life improvement when you owe 42 months arrears. MAdam dem don wrap ur brain with corruption.
ReplyDeleteFor all the report that the ministry has provided under her watch, there has never be any evidence to support them for once including budget.
ReplyDeleteShe has been corrupted totally and lost her credibility.