Kano pensions board denies allegedly missing N20b

KANO State’s pensions fund trustee yesterday assured workers that their retirement benefits were being prudently managed while describing the alleged missing funds as malicious and unfounded.

Senior Special Assistant to Governor Rabiu Musa Kwankwaso on Pensions Matters, Balarabe Ibrahim Gwarzo, had alleged that N20 billion was missing and urged for immediate investigation of the board.
However, the Executive Secretary of state’s Pensions Fund Trustee, Abdullahai Shuaibu Bichi, told journalists that “no kobo” was missing.

Though he revealed that the board invested the fund in real estate and money market, he doubted if the total assets were up to 20 billion. He said: “We have exhaustively deliberated on the allegation made by Balarabe Ibrahim and can confirm to you that it is false, unfounded and unwarranted.”

Abdullahi noted that despite the huge losses recovered from the past administration, which was due to economic meltdown, the board had never failed to settle monthly pensions to retirees, though he blamed the delay in payment of gratuity on the shortfall in federal allocation to the state.”