FG saved N2bn from 15,000 ‘ghost’ pensioners in 2yrs —Okonjo-Iweala

THE Federal Government, on Thursday, said it had been able to save N2.1 billion annually, by blocking loopholes for the activities of “ghost” pensioners in less than two years, after the establishment of Pension Transitional Arrangement Directorate (PTAD).

This was disclosed by the Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, at a stakeholders’ forum organised by the PTAD, in Abuja.

The minister further disclosed that the government had blocked loopholes in the old pension administration scheme, where over 15,000 ghost pensioners were included in government payroll system.

In her remarks, the Director-General of PTAD, Ms Nellie Mayshak, said the major success of the agency was checking dubious financial transactions in commercial banks, which, she said, pensioners’ funds were hitherto channelled for personal gains.

Mayshak said PTAD, through its establishment, had taken advantage of the ICT to consolidate on the erstwhile pension offices, comprising Civil Service, Pension, Police Pension, Customs, Immigration and Prisons pension/ boards of trustees of all parastatals funded by the Federal Government.

Okonjo-Iweala said 14 individuals, whose identity she kept secret, were currently standing trial in the law court over the pensions probe initially carried out by the National Assembly in 2013, in which N32 billion was allegedly squandered.

While receiving commendations for bringing sanity into the pension scheme, Okonjo-Iweala said through the Government Integrated Financial Management Information Systems, PTAD had been able to consolidate several accounts in commercial banks, holding pension funds, that had been prone to looting to three or four.