Witness narrates how Ex-HoS, allies diverted public funds to private companies in court
Reps flag off probe into mismanagement of pension funds
By Modupe Shodeinde
The House of Representatives on Thursday, has commenced the probe into into petitions bothering on alleged mismanagement of pension funds by some Pension Fund Administrators (PFAs).
The Chairman of the House Committee, on Pension Hon. Kabir Alhassan Rurum (APC, Kano) directed the Managing Directors and Chief Executive Officers of AIICO Pension Managers and Fidelity Pension to cause appearance before the Committee.
He said the House will not accept any presentation from representatives of the PFAs especially when there was no written communication to the House mandating them to do so.
He said: “The Committee has the constitutional rights and mandate to invite anybody in the pension industry to come and explain issues of public importance and we didn’t summon them, we only invited them to come because the Pension Reform Act of 2014 has given us the right to do so.
“Moreover, there is a lot of complaints and counter complaints against AIICO and Fidelity Pension, and based on that they were invited, but unfortunately, the Managing Directors or Chief Executive Officers of the two important agency refused to come
“Based on that, the committee decided that they appear in person. We are going to give them a date where we are going to mandate the two Managing Directors to appear in person,” Hon Rurum said.
The Regional Manager of AIICO Pension, Temitope Ajegboje, told the lawmakers that they got the invite on Friday, however, he said the Managing Director could not honour the invitation because of medical emergency.
Other lawmakers noted that the law specifically provides that the CEO of any organisation invited to give testimony before the Parliament must make him or herself available.
Hon. Momah therefore moved that the MDs and CEOs must make themselves available to the committee or face the consequences therefrom.
