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26 Oct 2017

Shocking Revelation: How N4billion Kogi Pension Fund Was Diverted Into Private Pockets from 2010 to 2015

New revelation has shown that as much as N4billion Kogi pension fund was diverted into private pockets between five years.
Alhaji Yakubu Okala, the Auditor-General of Kogi State and chairman, technical committee, state pension reform, has revealed that N4 billion belonging to pensioners in the state was diverted into private pockets between 2010 and 2015.

According to The Nation, this he said was perpetrated by few individuals saddled with the responsibility of handling the pension funds.

Okala who made this known on Thursday in Lokoja during a stakeholders meeting heralding the new contributory pension scheme by the state government said that all those that were involved in the pension fraud will be apprehended and brought to justice.

According to him, embezzlement of the funds in the state has thrown pensioners into a piteous condition to the point that many of them were ashamed of being identified as retired civil servants.

He added: “Pensioners at the local government level are worst hit by the fraudulent act. Investigation on the councils’ pension is on-going and we must see it to the end.
“Government has tried its best in releasing money for the payment of pension in the state, but the handlers have failed woefully.”

He lamented that in 2007, a pension reform bill was sent to the State House of Assembly, and passed into law, but that the scheme did not commence until after ten years as a result of lack of political will by previous administrations.

He called on the civil servants at the state and local government levels to key into the new contributory pension scheme in order to better their lives after retirement.

He commended Governor Yahaya Bello for his courage in actualising the new contributory pension scheme for civil servants in the state.

The chairperson of the state pension bureau, Hajia Sa’adatu Atima explained that for the success of the new pension scheme, the state government will contribute 10 percent while individual workers will contribute eight percent.

She described the scheme as safe and laudable, urging workers in the state to key into it.

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