Daily Trust (Abuja)

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.

Ads by Google

Copyright © 2012 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.