The House of Representatives Committee on Public Accounts has summoned the Minister of Finance and Coordinating Minister for the Economy, Ngozi Okonjo-Iweala to appear it to explain how N24 billion pension fund released in 2010 from the service wide vote was disbursed.
Also to appear alongside with her are: the Accountant General of the Federation, Mr. Jonah Otunla, Auditor-General of the Federation, Mr. Samuel Ukura and the Director General Budget Office, Dr. Bright Okogwu
The Committee headed by Solomon Adeola Olamilekan, was alarmed when the Director-General of Pension Transitional Arrangement Department (PTAD), Mrs. Nellie Mayshak, said there was no record of such money in the office.
Mrs. Mayshak was summoned by the committee on Tuesday to explain how the office spent the N24 billion received through the Budget Office from the service wide vote.
She said she was new in the office, declaring “We have no evidence, we have no record. It just looks bad on our part. We rather tell you the truth or make it up”.
However, the Internal Auditor of the Pension office, Mr. Adeyemo Julius Adebolu who was around when the N24 billion was released confirmed that the Pension office actually received the money.
He told the committee that he advised the pension office to lodge the money in a First Bank account. Mr. Adeyemo however said he was kept in the dark when it was being disbursed.
Adebolu also disclosed that rather than allowing the staff of the pension office to disburse the fund, a consulting firm was contracted.
According to him, the auditing of the money in question was done without him, adding that he only came into the picture when some of the pensioners after receiving their money complained of being short-changed by the consulting firm.
Speaking, the Chairman of the Committee, Adeola Olamilekan, therefore directed the DG budget office to come with a memo showing the request for the missing N24 billion.
Also, the committee requested the First Bank to make necessary documents available showing the details of transaction like the amount deposited and how much was disbursed.
He expressed surprise at revelation, assuring that the committee would unravel the truth.
“I am taken aback, because what you are telling us is that, service wide vote is a slush account, it is an account that is used to settle the boys,” the chairman said.
