Reps c’ttee summons PenCom mgt, 21 PFAs over pension funds

The House of Representatives ad hoc committee investigating the apex pension body, National Pension Commission (PenCom) has invited the commission’s top management staff and 21 Pension Funds Administrators (PFAs) to appear before it on Thursday. The ad hoc committee set by the House last December is investigating the unwholesome practices by pension administrators and custodians. In a letter obtained yesterday and dated January 21, the committee invited the PenCom acting Director General, Aisha Dahir-Umar and other top management staff to explain their roles in the unwholesome practices by pension custodians. Also invited are the pension administrators and custodians mandated with the management of pension funds. In the letter signed by the ad hoc committee Chairman, Rep. Ehiozuwa Johnson Agbonayinma (APC/Edo), the stakeholders are expected to furnish the committee with vital information on the allegations levelled against the fund managers. The committee among other requests demanded for the net assets of the contributory funds, details of supervisors and regulations of pension funds administrators and their key instructions and performances, compliances and defaults, details of payment into Treasury Single Account (TSA) and bank accounts operated by the commission. When contacted, chairman of the committee, Rep Agbonayinma confirmed that actually the commission has been invited. He said that “yes, we have invited the top management of PenCom and PFAs to an interactive session before the investigative public hearing. “The 21 recognised pension fund administrators are expected to be part of the session with members of our committee.” Henry Omunu, Abuja