The Managing Director, Premium
Pension Limited, Mr. Wilson Ideva, has said the Contributory Pension Scheme
will make corruption in pension management a thing of the past if generally
embraced in strict compliance with legal instruments establishing it.
A statement by the Head,
Corporate Communication, Premium Pension, Mr. Paddy Ezeala, quoted Ideva as
saying this during a summit for education ministries, agencies and
institutions, which was organised by Exam Ethics Marshals International in
Lagos.
“People steal what they do not
need for fear of the unknown. The new Contributory Pension Scheme has provided
an umbrella that guarantees decent life for workers upon retirement and secures
a large pool of funds that can be deployed for national development,” the
managing director said.
He noted that the success
recorded by the pension industry within a short period of time would encourage
workers to do their jobs honestly in the expectation that their future was
guaranteed.
Ideva also said the funds under
management in the pension scheme could be used to hold down inflation and
develop the country’s infrastructure.
The pension administrator noted
that more than N4tn was under management even though only six million out of
the estimated 70 million Nigerian workforce was enrolled in the scheme.
According to the statement, the
founding Chairman, Exam Ethics Marshals, Mr. Ike Onyechere, said corruption had
permeated every sphere of the society, including educational institutions where
teachers were now taking bribes from students.
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