House of Reps starts investigations into activities of PENCOM

The House of Representative has started investigations into the activities of the National Pension Commission (PENCOM) from April 2017 to date on the alleged violation of the Act establishing the commission. The investigation began on Thursday in Abuja with a public hearing was organisaed by Ad hoc Committee of the house. The Speaker of the […]

The House of Representative has started investigations into the activities of the National Pension Commission (PENCOM) from April 2017 to date on the alleged violation of the Act establishing the commission.

The investigation began on Thursday in Abuja with a public hearing was organisaed by Ad hoc Committee of the house.

The Speaker of the House, Mr Yakubu Dogara, speaking at the public hearing, said that the house was concerned about the activities of every parastatal.

Represented by Rep. Munir Danagundi (APC-Kano), Dogara said that as representatives of the people, the house would always ensure accountability and transparency.

“The house comprise of 360 members, everybody is concern to see that things are done according to due process and in accordance with the law of the land.

“When this motion was brought to the floor of the house, everybody was concerned because of the magnitude of the asset of this agency, which is over N8.9 trillion, an equivalent of the national budget.

“It is the concern of every member and citizen of the country to see that the right thing is done so that nothing happens to our pension funds,” he said.

Dogara solicited the cooperation of all stakeholders to ensure things were done correctly in accordance with the laws of the land.

Earlier, the Chairman of the ad hoc committee, Rep. Johnson Agbonayinmam (APC-Edo) said that the committee was constituted on Dec. 12, 2018.

He said that the committee’s mandate was to investigate the activities of PECOM from April 2017 to date.

The rep said that the public hearing was to enable the committee get information from stakeholders, consider them and make accurate recommendations to the house.

He said that the instrument of the legislature must consciously be upheld to promote good governance.

Agbonayinmam said that the importance of pension “cannot be overemphasised’’ as hitches surrounding retirement had imposed much challenges for workers over time.

He said that most workers do not know how to save money for retirement which necessitated the Federal Government to design a savings scheme to clear the fears of workers ahead of their retirement.

According to him, some retired workers still suffer setbacks in accessing their pension but the government will not relent until all infractions are fixed.

Agbonayinmam said that it was expected that the scheme would satisfy all expectations with efficiency and transparency.

The chairman urged all stakeholders to avail the committee all relevant documents and information to carry out the investigation. (NAN)