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Exclusive:Battle
over
‘Idle’ N20 bn
Police Pension Fund: Why Task Force Members May Quit
By Danlami
Nmodu
Newsdiaryonline Wed Oct 26,2011
Professor Afolabi:In the eye of the storm
A massive
battle is going on to seize control of
what has been described as
more than N20 billion idle
or excess
police pension fund.Newsdiaryonline
investigations revealed that the
struggle for the
fund is so intense that even the Pension Reform Task Force
members whose efforts led to the exposure
of the idle fund are now
being intimidated and
frustrated to the extent that
some of them want to
simply quit the special assignment given to them .Hints that the
men are thinking of resigning has led to anxiety over the idle
Police Pension
funds.Police sources said they were
shocked to hear that
even the Finance Minister,Dr Ngozi Okonjo Iweala
has approved the recent appointment of KPMG to review the
pension issue after the officials of government including men
described as people of integrity from various security agencies
have done a thorough job. A startled security
source revealed that he
just suddenly heard that KPMG has been appointed to review the
workdone so far.”We suspect that the finance minister has been
misled into doing what may tarnish her image .There are people
who want to just grab and share the pension funds that have been
saved from the task force’s effort and if care is not taken that
is what may happen.People,I mean the pension mafia comprising
powerful people want to loot the funds.We understand the task
force guys have refused to allow them to steal the pension funds
so they are trying to push the chaps out of the system.Sadly the
task force member are feeling frustrated and overwhelmed
already’’ cried an insider.
It all began like a move laced with the
best of
intentions.After working tooth and nail to reform the pension
system in the office of the Head of Service of the Federation,
the Task Force set up by Steve Orosanye got a new mandate.They
were told to go and restructure the police pension system and
they had a three month period within which they should finish
the job.
Newsdiaryonline learnt from highly placed
police sources that the
pension task force members led
by Abdulrashid Maina started
their work and made
some reform moves which saved the system of about N20 billion
.But it seemed the those who gave
the task force members
the assignment had a
different plan which is
now referred to as a
hidden agenda.
According to
Newsdiaryonline
investigations ,the restructuring of the Police Pension scheme
began vide a letter to the Pension Reform Task Force by Prof
Oladapo Afolabi who was then
the Head of Service
.Sources said he had written a letter dated June 8, 2011
with reference number HCSF/062/S.1/11/21 to the task force
urging them to reform
the Police Pension system.
Newsdiaryonline
learnt that the task force which has representatives of key
security agencies like the State Security Service,SSS, Economic
and Financial Crimes Commission, EFCC, Independent Corrupt
Practices and Other
Related Offences, ICPC and others indeed began a thorough job
that eventually saved billions of Naira.The task force it was
learnt was given three months to do its job.
Police sources said they discovered that
some highly placed people did not
want the task force to accomplish its task and the job is now
mired in intrigues. According to a
source, about 22 days to
the end of the job being doing by the task force ,Professor
Afolabi suddenly
appointed one Mr Y K Adeyemi to take over from the task force as
a director of the police
pension.
Mr Adeyemi was said to have made his way
into the Police Pension office .He did not only take over the
office ,he began writing to the banks holding the pension
funds.He told the banks that he was now
effectively charge.He
wrote to the bank on the 23rd of August.But the banks
did not honour him with a reply.Again on the 24 of August he
wrote to the banks that he was yet to receive the mandate sheet
.As his tussle with the banks continued the Head of
Service then, Prof
Afolabi on the 7TH of September
wrote a letter to the banks introducing Y.K Adeyemi as
the new director of police pension fund.He
quoted the account number
which the banks were
required to effect
the change of signatory.
An angry police source said virtually all
the banks, refused to comply ,perhaps
because they suspected
foul play. Only
First Bank bank complied.And there is anger now among
unionists
because according to
sources as soon as
First Bank complied ,the sum of N119,979,952.8 was withdrawn
from the account of the
Police Pension Fund the same day the former head of service
wrote to the banks. Some valid questions are being
asked by sources: Why
was the Head of Service who just had about a month to retire so
keen in replacing the head of the Police Pension? Interestingly
sources at the records office have revealed
that even Adeyemi is
scheduled to retire in about five months.So why put a man like
that in charge of such a critical position?Even the Accountant
General of the Federation JO Otunla
said to be a loyalist of
the then outgoing Head
of service was alleged to have written to the banks urging them
to recognize Adeyemi .Informed sources are wondering why the
sudden hurry to change the leadership of the police penion after
the task force had done
some professional work
that has identified
multibillion Naira idle funds.
Newsdiaryonline learnt that when Okonjo
Iweala initially learnt that the efforts of the task force were
stalled, she called for a brief and afterwards,she
consulted with
President Goodluck Jonathan.Subsequently,she urged the task
force to go ahead with the reform of the police pension.But even
police topguns were shocked to find out that the finance
minister later made a u- turn as
she issued
a counter directive to the task force in Setember saying the
President has approved the use
of KPMG to review the activities of the task force.Iweala
reportedly said the last letter to the task force should be
considered as superior
and it ‘supercedes’ earlier directives.Newsdiaryonline learnt
that this turn of events has shocked everyone who is wondering
what may be going on.Investigations by Newsdiaryonline revealed
however that some powerful forces
were said to have lobbied to ensure that the task force
was stopped from continuing with the police pension
reform proceedings.
There is shock
because the good work by the task force has
not even been
appreciated by the government. Members who were carefully
selected have faced
threat to their lives, intimidation and regular negative
campaigns by those
described a the pension mafia. Recently members of retired
police officer union urged the House of reperesentative to look
into the withdrawal of Money from First bank
account because those
whom the funds were used
to pay may be fake and non existent.
But it was learnt that the fact that the
House of Representatives is asking questions already is making
some key members in the
executive arm of government angry.That is
why many who spoke to
Newsdiaryonline are
suggesting that a thorough probe of this scandal should be
embarked upon by the National Assembly.
When
Newsdiaryonline attempted to reach the pension office for
clarification, the policemen on guard
said the officials
had gone
at the ministry of
finance for a meeting.But investigations revealed that members
of the task force have
resolved to pull out and hand over as requested. Police
sources are asking
questions already:why
has the government
not mopped up the N20 billion excess
fund from the police
pension? Why has it not been taken to the treasury? It was
further learnt that the work of the task force
earlier saved
several billions in the pension office of the office of the Head
of service, where has the money gone to?
N16 billion is believed
to be in Union Bank . Another N15.5 is said to be in Zenith Bank
and much more. Sources said all these billions
were saved
from 2010 till date.The question now, according to a
source is:where has all
this money gone to? Why are we taking this country for a
ride?These task force people are trying to fix the sytem and
they are now being frustrated out,why?
“Well I can tell you that the task force
members now feel like
orphans’’ said the source.”We even understand that the new Head
of service may have
been brainwashed and that
may be why he has not even called for a thorough briefing
from the task force members since
he came in ‘’ the source added.
Isa Bello Sali is
the new head of service of the federation.He took over from
professor Afolabi.It was Steve Orosanye who handed over to
Afolabi that set
up the task force.In fact there is a feeling among security
sources that Orosanye should be brought back in any capacity to
drive this pension reform which
he started because the team appears
to have been lost. “ It
was Steve Orosanye that created the task force on pension reform
why can’t he be brought back in another capacity to drive this
reform’’ asked a union source who feels frustrated
and he concluded
by saying “otherwise
only the press and the national assembly can save us from
this unfortunate development over the police pension scheme.’’
The pension reforms started by Orosanye led
to the uncovering of a huge scam.Some topshots were arrested
and
charged to court by the
EFCC.The commission recovered over
N20billion in the pension office of the office of Head of
Service alone.
Police sources warn that those attempting
to loot the pension fund should beware because all the security
and anti corruption agencies are represented at the task force
and they have all the
records of
transactions and proceedings so far.” Let me tell you, the
source continued, ”as a
proof that these task force men are good, even the DG of the
SSS(Mr. Ita Ekpeyong
) has asked them
to come and reform the
pension system of the SSS. We understand
some people tried to
convince the DG not to get the task force to do it but the DG
SSS insists he wants
them to do a good job for the
SSS. Remember that the SSS to
has its representative
in the task force, so the DG SSS is not ignorant of what is
going on.’’
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