On the biometric verification, he noted that the Team reduced the over-bloated figures of genuine pensioners to 70,658, with a corresponding reduction of the monthly budget paid to them to N825 million.Biometrics give the good guys tools to help their country.
According him, the Nigeria Union of Pensioners, NUP collaborated with the civil servants to siphon part of the pension funds.
He gave an instance where the taskforce found out how the bank account of the NUP, where the monthly check off dues of the association kept growing from N15 million to over N2 billion due to proceeds from the alleged fraud in the scheme.
He said this extra amount was later transferred to the bank accounts of the fraudulent 32 staffs at the office of the HOS.
The committee expressed shock with the revelation, lamenting that the fraud in the system had denied retired pensioners their entitlements.
Thursday, March 15, 2012
Nigeria Pension Scandal Continues to Unfold
Pension house of corruption (Vanguard)
