By Egufe Yafugborhi & Chijioke Nwankpa
PORT HARCOURT— NATIONAL Pension Commission, PENCOM, yesterday, said the allegations of fraud in the new contributory pension scheme is a product of ignorance.
Director General of PENCOM, Mrs. Aisha Umar, took a swipe at critics of the new scheme at the agency’s fourth quarter forum for states held in Port Harcourt, Rivers State.
Umar, represented by the Head, States Operations Department, PENCOM, Dr. Dan Ndackson, said: “The scheme is, as structured, self-insured and difficult for fraud to be perpetrated.
“Every kobo of the trillions in this fund are in somebody’s name and nobody has ever come up to say that they have stolen money from his or her account.”
She insisted that the current challenges were not with the contributory pension scheme, but inherited problems.