Reps summon Eyo – Ita, CBN, others over PENCOM malpractices

Henry Omunu, Abuja

The House of Representatives ad hoc committee has summoned the apex pension body, PENCOM, the Head of Civil Service to the Federation, Winifred Eyo – Ita, the Central Bank of Nigeria, the Ministry of Finance and others over alleged unwholesome practices by the Pension Commission (PENCOM). Others invited by the House ad hoc committee include the Nigeria Labour Congress (NLC), Trade Union Congress (TUC) and all relevant representatives of agencies and institutions of the governing board of PENCOM. The ad hoc committee in an invitation dated January 28 and signed by its Chairman, Rep. Ehiozuwa Johnson Agbonayinma (APC/ Edo) requested for relevant documents from the invited persons and institutions to enable it adequately prepare for the investigative hearing scheduled for February 7. Sources informed our correspondent that despite the pressure to truncate the investigative hearing by some prominent Nigerians, members of the committee have vowed to get to the bottom of the running of pension issues in the country. A source privy to this development, said that “we are really disturbed because all we want to protect is the pensioners sweat and ensure they get their dues. “It did not even end there as we hear from authentic sources that since inception and now there was massive recruitment into the agency which was grossly lopsided.” The committee among others 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 and bank accounts operated by the commission. When contacted, Chairman of the committee, Rep. Agbonayinma confirmed that actually the commission and other major stakeholders have been invited to an investigative hearing. He said that “we are not leaving any part uncompleted as we are going to conduct a thorough investigative hearing that is water tight.” Recall that the House on November 29, 2018 during plenary had considered a motion on the need to investigate PENCOM for violation of the National Pension Commission Act and subsequently, set up an ad hoc committee to look into the matter.