ICPC, PTAD to Sign MoU to Tackle Pension Fraud
By Demola Bakare
In a strategic move to address corruption in the pension system, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Pension Transitional Arrangement Directorate (PTAD) have agreed to sign a Memorandum of Understanding (MoU) aimed at combating fraud and other corrupt practices in pension administration.
The development was announced on Thursday by the Chairman of ICPC, Dr. Musa Adamu Aliyu, SAN, during a courtesy visit by the Executive Secretary of PTAD, Ms. Tolulope Abiodun Odunaiya, and her management team to the Commission’s headquarters in Abuja.
Dr. Aliyu, who expressed concern over the persistent difficulties retirees face in accessing their benefits due to corrupt practices within the system, emphasized the Commission’s readiness to collaborate with PTAD to improve transparency and accountability in pension management.
He said, “I want to thank the Executive Secretary and her team for this important visit. The issue of pensions is very close to my heart, particularly because of the hardship our senior citizens endure just to receive their entitlements,”.
The ICPC Chairman stressed further, “There is a clear need for this MoU to enable both organisations to jointly combat fraudulent activities and ensure a more efficient pension administration.”
Dr. Aliyu, who noted that fraud is not limited to PTAD alone, pointed out that the Contributory Pension Scheme and other related initiatives have also been plagued by corruption.
The ICPC boss called on the management of PTAD to ensure the establishment of their offices in all the states of the federation so that pensioners across the country can have easy access to their services, adding that this will also ensure the smooth implementation and aid the success of the MoU.
In her remarks, PTAD’s Executive Secretary, Ms. Odunaiya, expressed appreciation to the ICPC for its willingness to support efforts aimed at sanitizing the pension system. She highlighted PTAD’s reforms over the past 12 years, particularly under the Defined Benefit Scheme (DBS), which have streamlined processes such as verification, benefit computation, payments, and complaints resolution.
The PTAD chief said, “Our efforts have significantly reduced the hardship faced by pensioners. However, we are increasingly challenged by fraudsters who target vulnerable retirees. We also face setbacks such as prolonged investigations and delays in prosecution, which hamper our ability to deter pension-related crimes effectively.”
Both organisations agreed that the proposed MoU will establish a framework for closer collaboration, with the shared objective of enhancing accountability and eliminating corruption in Nigeria’s pension administration.
