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Pension Scam EFCC arrests DG over N2.5b fraud

Mayshak also allegedly embezzled N500m meant for the take-off of the Pension Transitional Arrangement Directorate (PTAD).

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Former Director-General of the Pension Transitional Arrangement Directorate (PTAD), Nelly Mayshak play

Former Director-General of the Pension Transitional Arrangement Directorate (PTAD), Nelly Mayshak

(Punch)

The suspended Director-General of the Pension Transitional Arrangement Directorate (PTAD), Nelly Mayshak has been arrested by the Economic and Financial Crimes Commission (EFCC) for an alleged N2.5b fraud.

Three other culprits, Yoab Youssoufou, Patricia Iyogun, and Ruth Imonikhe, were also arrested alongside Mayshak.

Before her suspension, there were reports that the PTAD DG received N50m monthly as salary.

Punch reports that an EFCC source involved in the investigation said “In one instance, Mayshak allegedly approved N25,410,000 for the supply of 121,000,000 litres of fuel in one day when in fact there was no corresponding storage capacity, as PTAD only has a storage capacity of about 11,000 litres, which lasts for about a month.

“Mayshak is alleged to have awarded several phony contracts to cronies and members of staff of PTAD, through which she used to enrich herself as they only served as fronts for her.”

The source added that “Between December 8 and 30, 2014 she awarded multiple contracts to one company , Interactive Wide Nigeria Limited  to the tune of N29,377,993.26. Contracts for the supply of office materials, air conditioners, and conference materials to the tune of N375, 704,287 were awarded to Belzacode, Hosley Nigeria Limited, and Pabak Nigeria Limited.”

Mayshak also allegedly embezzled N500m meant for the take-off of the Pension Transitional Arrangement Directorate (PTAD).

Pension Transitional Arrangement Directorate (PTAD) was established to address the numerous pensioners’ complaints that bother on issues such as non-payment of monthly pension, short payment of pension and gratuity, removal of name on pension payment voucher, non-payment of harmonized pension arrears and irregular payments.

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