I could not have said, therefore, that PENCOM diverted pension money because it has nothing to do directly with pension money in the first place.
Gov. Adams Oshiomhole, has denied accusing the National Pension Commission of diverting N3.5tr.
His statement, on Tuesday, as reported by Punch Newspapers said “You challenge PenCom and the Ministry of Finance, you will discover that over N3.5tn was drawn down by the previous government from the pension fund to support recurrent expenditure, not to support infrastructure.”
In a swift twist, the Governor of Edo state has denied the statement.
He said “In the said reports, the impression created was that I had accused PENCOM of colluding with the Federal Ministry of Finance to divert the said amount.“
Oshiomhole also said “Considering the manner in which this serious economic issue that borders on the future of the Nigerian economy and the welfare of the Nigerian workers, who make contributions to the pension funds, is being misrepresented and trivialised in the media, I wish to make some clarifications and set the record straight."
Adding that “As someone involved from the outset in the crafting of the PENCOM Act, I am very much aware that under the law, PENCOM is a regulator of the financial institutions and operators that deal directly with the management of the pension funds and pension assets, namely the Pension Funds Administrators and the Pension Funds Custodians."
“I could not have said, therefore, that PENCOM diverted pension money because it has nothing to do directly with pension money in the first place,” Oshiomhole said.