The Centre for Public Accountability has (CBA) called for an urgent probe into the National Pensions Commission (PENCOM) following a string of allegations.
Among these are mismanagement of fees on pension assets, which resulted in the alleged failure to account for N42 billion, illegal application of regulatory powers and wasteful expenditure.
Olufemi Lawson, CPA Executive Director alleged the “long list of infractions, mismanagement and maladministration” ongoing at the commission under the leadership of Director General Chinelo Anohu-Amazu.
He pointed out the Pension Reform Act was enacted in 2004 for sustainable management of retirement benefits of citizens who worked within the public or private sectors of the federation.
As at today, he said, the accumulated pension assets stand at about N5,4 trillion.
“From that period to date, we want to assert that the commission has never been in the worst state than it is today,” said Lawson.
Lawson nonetheless lauded the efforts by the administration of President Muhammadu Buhari, who has been petitioned, in the fight against corruption.
He said for the ongoing anti-corruption war to be successful, Nigeria must ensure there were no “sacred cows” and “no stone is left unturned.
“We are writing this petition, as patriotic Nigerians, and stakeholders in the Nigeria project, as we wish to call on your good office, to in the interest of our nation, order an immediate probe into the allegations of activities of the PENCOM,” read a petition.
The Economic and Financial Crimes Commission and the Independent Corruption Practices and other related offences related Commission have been urged to investigate.