Nigeria’s pension fraud hits N157bn — EFCC

Economic and Financial Crimes Commission, Tuesday disclosed that the Anti-graft agency has convicted pension frauds to the tune of N157 billion.

Director of Operations EFCC, Adulkarim Chukkol disclosed this at a Two-day sensitization programme on the theme: “Eradication of Pension Fraud in Nigeria,” where he said the Commission has probed over N157 billion pension scam.

He said many more will unfold as the Commission is ever ready to bring those who embezzle pension funds meant for pensioners to justice.

Meanwhile, EFCC Chairman, Abdulrasheed Bawa, reiterated that the sole objective for the initiative is for Nigeria to have a pension system that is transparent, accountable and responsive to the needs of the most important and vulnerable stakeholders.