The House of representatives ad-hoc committee, Tuesday summoned former Minister of Finance, Ngozi Okonjo Iweala, Central Bank of Nigeria governor, Godwin Emefiele and former Accountant-General of the Federation, Jonah Otunla to appear next week Monday to explain their involvement in the alleged misappropriation of the pension funds. Readmore http://nationalbusextra.com/2018/03/06/reps-summon-okonjo-iweala-cbn-governor-maina-alleged-stolen-pension-funds/

This Senate promised us to issue a report and put us some months ago in the know after its Ad hoc Committee investigating the unexplained re-appearance, reinstatement and promotion of former Chairman, Presidential Task Force on Pension Reform, Abdulrasheed Maina completes it work. I have not seen a single report, I don’t know if anybody here has seen any.

It’s good that the Senate is rising to its constitutional responsibilities, administration of pension in Nigeria remains a corrupt, messy affair no doubt, but we must appreciate and respect the contributions of the former minister of finance, Dr. Ngozi Okonjo-Iweala in the sanitization of the pension administration in the country. She and her team confirmed the existence of the shady accounts with billions of naira deposits, which her office took over, after much work was done by the task force. This much she confirmed to one of the numerous Senate pension probe committee, headed by Aloysius Etuk

The Minister directed the freezing of the accounts, used to illegally warehouse pension funds in September 2011, with a directive to the chief executives of the banks not to pay out any money without appropriate authorization. What beyond this is the job description of a finance minister? What else will the Senate committee be asking Dr. Okonjo Iweala if she ever finds time to honour the Senate invites due to her busy schedule?

During her time as Minister of Finance Dr. Ngozi Okonjo-Iweala, and the Accountant-General of the Federation then, Mr. J.O. Otunla, launched a commendable initiative to harmonise pension accounts, to stop the lodging of pension funds in several shady accounts, hiding part of the funds in secret accounts and eventually carting it away. They worked towards streamlining pension fund administration and make it traceable and transparent. This present administration borrowed a leaf from there by setting up the TSA.