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    Tuesday, 8 August 2017

    Niger confirms N5.7bn pension fund missing

    Niger State government on Tuesday confirmed that a pension fund totaling N5.77 billion is missing.
    The money is 7.5 per cent employer/employee Contributory Pension Scheme deduction made on behalf of the Niger State Universal Basic Education Board (SUBEB) and local government councils in the state from 2007 to 2015.
    However, the state government has put in place a committee to ensure that the stolen funds are recovered and returned to government coffers.
    The Niger State Acting Governor, Alhaji Mohammed Ketso, disclosed these in Minna at the opening of a sensitization workshop on Effective Pension Management and Administration in Niger State.
    According to him, N5.779 billion and not N6.2 billion was the funds not remitted to the Pension Board during the period.
    Ketso added that the discovery followed the forensic audit of the pension scheme transactions carried out by the state government.
    He said the government has set up a committee to ensure that the stolen funds are recovered and returned to the government’s coffers.
    He said: “Let me reassure our pension contributors and all Nigerlites that we will ensure that every amount of money deducted as employers/employees contributions since the introduction of the contributory pension scheme in 2007 till date will be accounted for and applied judiciously in accordance with the law for the benefit of the workers who have worked hard and saved for their retirement.”

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