Auditor-General says N4bn pension fund diverted

The Auditor-General of Kogi, Alhaji Yakubu Okala, on Thursday, revealed that over N4 billion belonging to pensioners in the state was diverted into private pockets in the state between 2010 and 2015.

Okala, who is also the Chairman of Technical Committee on Kogi State Pension Reform, made the revelation at stakeholders meeting on importance of the new Contributory Pension Scheme in Lokoja.

He said the money was diverted by few individuals saddled with the responsibility of handling the state’s pension funds.

Okala said embezzlement was responsible for the plight of pensioners in the state.

He added that “pensioners at the local government level are worst hit by the fraudulent act.

“However, investigation on councils’ pension is ongoing and we must see to the end.

“Government has tried its best in releasing money for payment of pension in the state, but the handlers failed woefully.”

The technical committee chairman revealed that a pension reform bill had been sent to the state House of Assembly and passed into law but the scheme could not commence.

This, he attributed to the lack of political will by previous administrations, saying the present administration was committed to implementing the scheme.

He urged civil servants both at state and local government levels to key into the new Contributory Pension Scheme of the government to better their lives after retirement.

The Chairperson of Kogi State Pension Bureau, Hajiya Sa’adatu Atimah, described the schemeas safe and laudable, adding that the state government would contribute 10 per cent and workers would contribute eight per cent.