EFCC Plans Workshop To Eradicate Pension Fraud In Nigeria

The Economic and Financial Crimes Commission, EFCC, is organizing a two-day sensitization workshop with the theme: Eradication of Pension Fraud in Nigeria.

Chairman of the anti-graft agency, Abdulrasheed Bawa, disclosed Tuesday, that the workshop, being organized in collaboration with stakeholders in the pension industry, is scheduled for 5 and 6 October, 2021, at the NAF Conference Centre, Abuja, and is expected to serve as a platform for sensitization and practical exchange of information on how best to eradicate pension fraud in Nigeria.

TheFact Nigeria notes that the scale of corruption in Nigeria’s pension system, both at the federal and state levels, is staggering particularly in the States. It is characterised by huge embezzlement by those assigned to run the scheme as well as elected and appointed political office holders. In many states, it is either the funds contributed by workers during their working days are diverted, or the governments do not contribute their quota to the scheme as required by law. As a result, when these workers retire, they have absolutely nothing to fall back on. A lot of them even die without getting a dime from the money they had worked so hard for.

Bawa, on plans for the workshop further said it would help highlight the areas of corrupt practices in pension administration as well as collectively develop strategies to curb the menace threatening the country’s pension schemes.

Those expected to grace the workshop include Secretary to the Government of the Federation, SGF,
Mr. Boss Mustapha, Anti-corruption agencies, members of the Legislature and National Pension Commission, PenCom.

Other participants expected at the workshop include officials from the Military Pension Board, Police Pension Board, Pension and Records, Office of the Head of Civil Service of the Federation, Federal Ministry of Finance; Budget Office; National Union of Pensioners, NUP, Pension Transitional Arrangement Directorate PTAD, Retirement Benefit Advisors; Pension Fund Administrators and Civil Society Organisations.

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