Reps probe PenCom over N12.4bn IGR

By Johnbosco Agbakwuru

ABUJA—THE House of Representatives sub-Committee on PenCOM (Pension Commission), is probing how the management of the commission spent N12.4 billion it made from Internally Generated Revenue, IGR, within one year.

The sub-committee has, therefore, requested the management of PenCom to make available its income and expenditure from 2014 till date to know how prudent it had been with workers money.

The investigation of the commission’s account was a result of the revelation that the sum of N170 million was spent as dressing allowance; N11 million spent on gym allowance, while N1.73 billion was used for housing allowance for the commission.

The Deputy Chairman of the Committee, Michael Etaba, told the management of PenCOM to make all its documents on income and expenditure available to the committee.

Etaba said  the investigation on the financial transactions of the commission was not to witch-hunt anybody but to ensure that there was transparency in the spending of people’s money.

He said:  “This committee is not to witch-hunt anybody but to work and deliver the mandate we were given. When we came on board on June 2015, we were not able to meet the IGR aspect of the budget.

“So we want to know who approves the IGR and how the IGR is spent especially the 2016 IGR expenditure and we demand for documents on performance.”

However, a senior officer at PenCom, who spoke on condition of anonymity, said he was aware that staff of PenCom, just like other civil servants, were given housing loans to enable them buy houses under mortgage, adding that it was normally repaid by the beneficiaries over time.

He said dressing allowance was not peculiar to PenCom, noting that even lawmakers and other arms of government get wardrobe allowances and mortgage.

On the issue of the gymnasium, he said it was PenCom’s way of ensuring the fitness and health of staff so as to help improve staff efficiency & work productivity.

The source said:  “I suppose the management noticed the issue of health challenges among Nigerians, including PenCom staff, traceable to lack of fitness and exercise. In fact, we lost our commissioner from South West in 2016.

“We have at least one no lift day each week at the headquarters where the lifts are not used. So, even if you are not the gym type, you must use the staircase severally at least once a week. ‘’

The post Reps probe PenCom over N12.4bn IGR appeared first on Vanguard News.