Consulting firm reveals over N700m fraud in Bauchi pension fund

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Sen. Bala Mohammed, Executive Governor of Bauchi state

By Charly Agwam – Bauchi

A fraud of over N700 million in the Bauchi State Pension Fund has been discovered by a financial consulting firm, DYNATECH Solutions Limited, contracted by the State government to rid its payroll and nominal roll of ghost workers.

The firm revealed this on Thursday in Bauchi at the ongoing stakeholders and media parley organized to profer solution to the discrepancies and delay in payment of salaries to Bauchi’s state civil servants.

They alleged that the sum of N744,000,000 was stolen out of the state treasury in one month, while pointing out that one of the pensioners who was supposed to be paid N34,000 received over N1,500,000 and another one who was supposed to be paid N50,000 got over one million.

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In his remark, Governor Bala Mohammed lamented the situation, saying that he will not spare anyone caught in the act of sabotaging his government.

“Many petitioned that some unscrupulous individuals are collecting N250,000 to illegally employ and inflate the state payroll. I won’t spare the local government pension officers, they are responsible for these. Surrendering this fight is equal to mortgaging the future of our state,” he said.

Mohammed further regretted the difficulty some state workers and pensioners were experiencing due to the verification exercise.

He assured that resources of the state would be freed to pave way for the employment of fresh graduates after a decade of state-wide unemployment.

Vanguard News Nigeria.

The post Consulting firm reveals over N700m fraud in Bauchi pension fund appeared first on Vanguard News.

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