ICPC, PTAD Unite to Tackle Pension Fraud

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Pension Transitional Arrangement Directorate (PTAD) are planning to sign a Memorandum of Understanding (MoU) to jointly address fraud and irregularities in pension administration.

This was disclosed on Thursday during a visit by the Executive Secretary of PTAD, Ms. Tolulope Abiodun Odunaiya, and her team to the ICPC headquarters in Abuja.

The Chairman of ICPC, Dr. Musa Adamu Aliyu, SAN, commented on the need to improve the pension sector.

“The issue of pensions is very close to my heart, particularly because of the hardship our senior citizens endure just to receive their entitlements,” Dr. Aliyu said.

He described the agreement as necessary for promoting accountability in pension management, noting that fraud affects PTAD and other pension schemes, including the Contributory Pension Scheme.

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

Dr. Aliyu also urged PTAD to establish offices in all 36 states to improve access to pension services.

In response, PTAD’s Executive Secretary, Ms. Odunaiya, acknowledged the collaboration and spoke on the need for cooperation between institutions.

“Our efforts have significantly reduced the hardship faced by pensioners,” she said. “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.”

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