ICPC, PTAD to sign MoU on anti-corruption in pension administration

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Pension Transitional Arrangement Directorate (PTAD) are set to sign a memorandum of understanding (MoU) aimed at eliminating corruption in pension administration.

According to a statement by Demola Bakare, the ICPC’s spokesperson, the development was announced on Thursday by Musa Aliyu, chairman of the ICPC.

Aliyu was said to have spoken when Tolulope Odunaiya, executive secretary of PTAD, and her management team visited the commission’s headquarters in Abuja.

The ICPC chair expressed concern over the persistent difficulties retirees face in accessing their benefits due to corrupt practices within the system.

He also emphasised the commission’s readiness to collaborate with the PTAD to improve transparency and accountability in pension management.

“I want to thank the Executive Secretary and her team for this important visit. The issue of pensions is very close to my heart, particularly because of the hardship our senior citizens endure just to receive their entitlements,” the ICPC chairman said.

“There is a clear need for this MoU to enable both organisations to jointly combat fraudulent activities and ensure a more efficient pension administration.”

Aliyu said fraud is not limited to the PTAD alone, pointing out that the contributory pension scheme (CPS) and other related initiatives have also been plagued by corruption.

He called on the management of the PTAD to ensure the establishment of offices in all states of the federation.

This, Aliyu said, would enable pensioners across the country to have easy access to their services, ensuring the smooth implementation and success of the MoU.

On her part, Odunaiya commended the ICPC for its willingness to support efforts aimed at sanitising the pension system.

She highlighted PTAD’s reforms over the past 12 years, particularly under the defined benefit scheme (DBS), which have streamlined processes such as verification, benefit computation, payments, and complaints resolution.

“Our efforts have significantly reduced the hardship faced by pensioners,” Odunaiya was quoted as saying .

“However, we are increasingly challenged by fraudsters who target vulnerable retirees.

“We also face setbacks such as prolonged investigations and delays in prosecution, which hamper our ability to deter pension-related crimes effectively.”

The statement added that both organisations agreed that the proposed MoU will establish a framework for closer collaboration, with the shared objective of enhancing accountability and eliminating corruption in Nigeria’s pension administration.