Niger to audit contributory pension scheme operation

Governor Abubakar Sani Bello of Niger State has approved the conduct of an independent forensic audit of the operations of Contributory Pension Scheme (CPS) in the state.

This is to unravel funds discrepancies in the operation of the scheme in the local government councils, Local Government Service Commission and Niger State Universal Basic Education Broad (NSUBEB).

This was made known by Jide Orintunsin, Senior Special Assistant, Media and Publicity to the governor in Minna on Wednesday.

Mr. Orintunsin stated that the forensic audit became necessary following the findings of a committee set up by the new management board of the State Pension Board.

To this end, state governor has approved the appointment of an accounting and auditing consultancy firm to undertake the exercise and proffer global best practices options for the operation of the scheme.

The board had earlier in a report submitted to the government through the office of the Secretary to the State Government (SSG) on the findings of its committee and recommended a forensic audit of the operations of the CPS in the state.

According to the media officer, the forensic audit of the operation of the scheme was a move by the state government to unearth the discrepancies and the lingering crisis that led to the suspension of deductions under the scheme in April, 2015 and ensure effective operation of the scheme in the state.

“The administration of Alhaji Sani Bello is committed to resolving the inherited lingering crisis associated with CPS in the state and it is worthy to note that the administration has recorded some milestones in the settlements of entitlements to beneficiaries of CPS.

“The board’s management under Bello has processed and paid 10 beneficiaries under the scheme to a tune of N23,826,578.16.

“While efforts are being made to get another set of 43 beneficiaries, whose entitlement of N35,510,471,89 have been paid by government but are yet to access the benefits from their Pension Fund Administrators (PFAs) to be paid by the PFAS concerned.”