10 Years Only for Pension Thieves?

THE Pensions Reform Bill now amended and passed by the House of Representatives has, according to the House Committee on Pensions, created ‘new offences and prescribes stiffer penalties that will serve as deterrent to stealing from pension funds’. This is most welcome and deserves commendation as one of the good deeds of a legislature, Nigerians have come to accept as part of the malaise instead of a solution to their problems. 

    Specifically, the amendment prescribes  a ‘harsher penalty of a 10-year jail term for anyone who misappropriates pension fund, in addition to refunding three times the amount embezzled’. This prescription for an offence that, in view of the sordid revelations of the past few years, is rampant in high places is, however, inadequate and must be made truly harsher if Nigerians would not be given the impression that crimes in high places are too often well hidden and, if exposed, too lightly sanctioned.

   Besides, the crime seems to operate as a racket in the public service, regardless of rank because the process of documentation necessarily involves many persons who must collaborate to effect the crime. Hence the difficulty in detection, the scale of the crime and the need for stiffer sanction.

No money is missing from Police Pension Fund – Okonjo-Iweala

The Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, on Wednesday confirmed that no money was missing from the Police Pension Fund.
This is contained in a statement issued by Mr Paul Nwabuikwu, her Special Adviser on Media, in Abuja.
It said reports that N24 billion was missing from the fund were false.
“Contrary to media reports, the sum of N24 billion is not missing from the Police Pension Fund,’’ the statement stated.
It stated that Okonjo-Iweala had told the Senate Joint Committee on Pensions Administration at a public hearing that she ordered the account frozen to prevent fraud.

Pension thieves threaten our witnesses – EFCC

Suspected Police Pension Fund thieves hide their faces in
shame during a court session

The Economic and Financial Crimes Commission on Thursday said some suspected pension thieves on trial are threatening its witnesses in a bid to undermine evidence established against them.

Mr. Bello Yahaya of the EFCC Operations Department disclosed this at a ‘sensitization workshop on the importance of protecting witnesses’ identity and addresses,’ which was organised by the Prisoners Rehabilitation and Welfare Action in Abuja.

The EFCC operative noted that, because of the stolen funds at their disposal, the unnamed pension thieves try to entice witnesses in order to stop them from turning up in court to testify in their trial.

Pension thieves cashed 400 cheques in one day –Witness

EFFCC Chair, Ibrahim Lamorde

A prosecution witness in the ongoing trial of seven persons accused of complicity in the over N20bn police pension fraud, Mustapha Gadanya, has narrated to Justice Hussein Baba of the Federal Capital Territory High Court how 400 cheques were  cashed in a day by the accused persons.
Led in evidence by Rotimi Jacobs, SAN, Gadanya told the court on Tuesday in Abuja that he obtained and analyzed the certified true copy of instruments used in making withdrawals in the name of Veronica Onyegbula and the Directors of Police Pension  office, Esai Dangaba, Atiku  Abubakar and Inuwa Wada.