“We didn’t give federal government N10tn loan” – PenCom boss

The National Pension Commission (PenCom) is not a bank that warehouses funds or gives loans, says director-general Mrs. Aisha Dahir-Umar over the weekend. According to her PenCom is not a custodian of retirees’ funds or a body in charge of disbursement. She said contrary to assumption, pension fund assets are not managed by PenCom. She, however, attributed the delay in payment of retirement benefits to some federal government retirees and deceased employees to late payment of Accrued Pension Rights. The director-general made the clarifications during an interactive session with the media against the backdrop of accusations that PenCom had warehoused fifteen trillion naira in pension funds.