The House of Representatives is to investigate alleged failure of the management of Police Pension to meet the monthly payment of pension and timely payment of gratuities to retiring police officers.
He warned if nothing was done to address the situation, retired police officers may take advantage of the security challenges in the country to create problems in the country. He listed the peculiarities to include reconciliation of personnel data crucial to obtaining pension contributions from the CBN and effectively managing critical welfare issues such as Group Life Assurance and Health Insurance Scheme.According to him, after the incorporation of the NPF Pension Limited, the National Pension Commission directed existing Pension Fund Administrators to move N305 billion Police Pension Assets to the NPF Pension Limited.
He expressed concerns despite the PENCOM regulatory supervision, there are various pending fraud cases in court instituted by Economic and Financial Crimes Commission against officials of NPF Pension Limited.
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