ICPC Uncovers Over N23bn Pension Funds �Lost� in 40 Bank Accounts

 

The Independent Corrupt Practices and Other Related Offences Commission, (ICPC), has uncovered over N23billion pension funds ‘lost’ in 40 bank accounts in the country.

According to Vanguard, the ICPC revealed that the Commission consolidated the pension funds accounts into four and was also able to recover N496million in accrued interests on one of the accounts.

Chairman of the Commission, Mr. Ekpo Nta, represented by a staff of the ICPC, Alhaji Isa Salami, disclosed this on Thursday at the maiden town hall meeting of the ICPC in Makurdi, the Benue capital. He said the Commission discovered that the National Pension Commission, PENCOM, was not remitting deductions from employees’ salaries to their respective Retirement Savings Accounts, RSAs, owing to inaccurate information.

“With the intervention of ICPC, the sum of N34.5 billion has been remitted to 97, 842 employees’ RSAs,” he noted, revealing that while conducting systems review of personnel cost expenditure profile across Ministries, Departments and Agencies, MDAs, over a period of four years, ICPC compelled the return of over N6billion unspent balances into government treasury.

The ICPC Chairman urged Nigerians to support the renewed onslaught against the ‘monster’ called corruption because “it is by so doing the menace can be driven down and eventually eliminated from our country.”