Okonjo-Iweala Pledges Action Against Pension Racketeers

By SaharaReporters, New York

The Coordinating Minister for the Economy and Minister of Finance, Ngozi Okonjo-Iweala, has stressed that it is a crime to defraud helpless, old people.
She was commenting on her submission yesterday before the Senate Committee which is investigating alleged large-scale corruption in the management of pension funds in the country.  
 “This government is sworn to make sure that people, old and young, are treated fairly and with the dignity befitting them,” she said.  “We will also ensure that things are done transparently.”

Mrs. Okonjo-Iweala noted that the Pension Task Team was appointed before she returned as Minister. “As soon I heard the allegations that a lot of sharp practices were going on in the disbursement of pension money, I quickly ordered the freezing of the accounts, with the approval of the President,” she said.  “My priority was to stop any fraud immediately.”
She said she also ordered a KPMG investigation, and that the firm’s findings confirmed that many wrong things were done and are still being done in the management of the funds.
“I assure you all that we will take action after studying the recommendations,” she said.