As part of efforts to promote transparency and accountability, the Pension Transitional Arrangement Directorate (PTAD) has signed a Memorandum of Understanding (MoU) with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to jointly combat corruption in the administration of the Defined Benefit Pension Scheme (DBS).

Signed by the Executive Secretary of PTAD, Tolulope Odunaiya, and the Chairman of ICPC, Dr Musa Aliyu, the legal document provides a framework for collaboration between both institutions in monitoring, investigating and preventing corrupt practices within the DBS pension system.

In a statement by PTAD’s Head of Corporate Communications Unit, Olugbenga Ajayi, Odunaiya, said the MoU reflects the directorate’s shared determination to combat pension corruption within the DBS, uphold integrity and advance transparency and accountability within its respective mandates, while ensuring the delivery of good governance to every pensioner and stakeholder.

By leveraging their combined strengths, she said they could significantly enhance their capacity to prevent, detect and prosecute corruption-related offences in the DBS pension system.

Responding, the head of the ICPC said that by combining PTAD’s robust and increasingly digitised database with the investigative and prosecutorial powers of the Commission, both institutions were creating a seamless and powerful force.

He also commended the PTAD boss for her unwavering commitment to the fight against corruption in the Federal Government Defined Benefit Pension Scheme.

According to him, the partnership underscores the shared mandate of PTAD and ICPC to promote good governance, strengthen accountability and safeguard Nigerians’ welfare from fraudulent practices.