30 May 2012

Nigeria: Pension Scam - Over N60 Billion Looted Suspect

A former director of Pension Accounts in the Office of the Head of Civil Service of the Federation (OHCSF), Dr Sani Shu'aibu Teidi, has revealed that over N60bn pension fund was stolen as against the N32.8bn recently reported by some national dailies.

Addressing journalists in Abuja yesterday, Teidi said, "What was involved in the pension fraud, like I told the Senate committee that probed the scam, was over N60bn. From my own records alone, what went out of the pension funds was more than N41bn, and there are other records to show that altogether, the fraud was over N60bn. I won't comment further on this because the matter is still being investigated."

Teidi, who is standing trial over a N4.56 bn scam, denied that he gave N3 bn to the Senator Aloysius Etok-led Senate Joint Committee on Public Service and Establishment and State and Local Government Administration as recently reported.

He said his lawyers had written media houses that carried report, demanding a retraction, apology and N2.5bn compensation.

Members of the Senate committee told newsmen at the National Assembly yesterday that the report of the pension probe would be laid on the floor of the Senate Thursday and declined comment on the alleged N3bn bribe.

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