Pension Fraud: PTAD seeks EFCC’s intervention


The Pension Transitional Arrangement Directorate, (PTAD), has solicited the support of the Economic and Financial Crimes Commission, (EFCC), in assisting it to investigate its officials and other individuals alleged to have defrauded pensioners in the country.

The Executive Secretary, (PTAD), Dr. Chioma Ejikeme, made the appeal on 5 March 2020, when she led a management team to the (EFCC) Headquarters, Jabi, Abuja.

While calling on the acting (EFCC) Chairman, Ibrahim Magu, for his assistance, she revealed that (PTAD) was being owed over N2 billion pension funds by NICON Insurance.

According to her, the assets of many defunct agencies that were privatised were not handed over to (PTAD), and so she called on the (EFCC) to assist in this regard.

She said: “The (EFCC) has a long-standing relationship with (PTAD), especially with the verification exercise.

“In November last year, we concluded the field verification exercise for all the operational departments in (PTAD) and (EFCC) has been solidly behind us all along.”

Commending the (EFCC) for playing “a vital role in the investigation and prosecution of pension fraudsters in the past,” she said the (PTAD) looked forward to more of such from the Commission.

Responding, Magu reinstated his commitment to the corruption fight, stressing that pensioners will be protected from fraudsters.

“The (EFCC) and (PTAD) are working together,” he said, stressing the need for (PTAD) to assist the Commission in its intelligence-gathering efforts.

He further expressed the resolve of the Commission to “go after anyone found wanting in defrauding the pensioners”, and promised that no stone will be left unturned in bringing such pension fraudsters to book.


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