PENGASSAN Pledges Support For Pension Scam Probe

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has thrown its weight behind the probe of the pension fund fraud.

Speaking to The Tide during the May Day celebration in Port Harcourt, the Union’s National Industrial Officer, Comrade Chika Onuegbu said the scam has become a major source of worry to all workers.

He said workers had looked forward to a happy retirement life but the poor monitoring and enforcement of the pension reform as well as the restructured mandated institution had led to the abuse of the fund’s management and an apparently bleak future for retirees.

Comrade Chika said that the union was in support of the efforts of the National Assembly at probing the embarrassing and scandalous incidences of the pension fund abuse by the fund management.

Comrade Chika who is also the State Chairman, Trade Union Congress further stated that Nigerians and the union are disillusioned by the fact that what Nigerians expect is justice from such probes and prosecution and not mere recommendations.

He stressed that such unacceptable measure only makes Nigeria a mere laughing stock among the nations of the world.

The PEGASSAN’s officer said the union has called on government to set up a special commission of Pension Fund stakeholders to deal with the abuses in the pension fund management.

He said that the special commission of pension fund stakeholders would have the power to summon all Pension Fund Administrators (PFA) for inquiry, verification and establishment of causes of abuses with a view to determining the gaps and derelictions as well as appropriate sanctions to be taken.

Philip Okparaji