ICPC, PTAD to Partner on MoU to Combat Pension Fraud
By Chizoba Njaka
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Pension Transitional Arrangement Directorate (PTAD) are set to formalize a collaborative partnership through a Memorandum of Understanding (MoU) designed to tackle corruption and fraudulent activities within the pension administration system.
The development was disclosed on Thursday by the Chairman of ICPC, Dr. Musa Adamu Aliyu, during an official visit by Ms. Tolulope Abiodun Odunaiya, Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), and her management team to the Commission's headquarters in Abuja.
Dr. Aliyu expressed concern over the persistent challenges retirees face in accessing their benefits due to systemic corruption, emphasizing the Commission's commitment to collaborating with PTAD to enhance transparency and accountability in pension management.
He stated, "I appreciate the Executive Secretary and her team for this significant visit. The issue of pensions is of great importance to me, particularly given the hardships senior citizens endure in receiving their entitlements."
He further emphasized the necessity of the Memorandum of Understanding, noting, "There is a compelling need for this MoU to enable both organizations to collectively address fraudulent activities and ensure more efficient pension administration."
The ICPC boss noted that fraudulent activities are not unique to PTAD, as the Contributory Pension Scheme and other related initiatives have also been affected by corruption. He urged PTAD's management to establish offices in all states of the federation to facilitate access to services for pensioners nationwide, ensuring smooth implementation and success of the proposed MoU.
In response, PTAD's Executive Secretary, Ms. Odunaiya, expressed gratitude to ICPC for its willingness to support efforts to reform the pension system. She highlighted PTAD's reforms over the past 12 years, particularly under the Defined Benefit Scheme (DBS), which have improved processes such as verification, benefit computation, payments, and complaints resolution.
Ms. Odunaiya noted that while PTAD's efforts have reduced hardships faced by pensioners, the organization faces challenges from fraudsters targeting vulnerable retirees, prolonged investigations, and delays in prosecution, which hinder effective deterrence of pension-related crimes.
Both organizations concurred that the proposed MoU will establish a framework for enhanced collaboration, with the shared objective of promoting accountability and eliminating corruption in Nigeria's pension administration