Niger to Audit Contributory Pension Scheme

The Niger state government has hired private auditors to audit the operations of the Contributory Pension Scheme (CPS) in the state.

The CPS had been embroiled in crisis and confusion resulting in the inability of retirees under the scheme to collect their entitlements in the last two years.

Consequently, Governor Abubakar Sani Bello directed the audit of the operations of the CPS. The governor’s Senior Special Assistant on Media, Mr. Jide Orintunsin, confirmed the development in a statement made available to journalists in Minna. He however did not disclose the duration of the exercise.

But Oritunsin said: “The CPS operation audit is to unravel funds discrepancies in the operation of the scheme in the Local Government Councils, Local Government Service Commission and Niger State Universal Basic Education Board” (NSUBEB).

“Forensic audit of the operations of the CPS was a move by the state government to unearth the discrepancies and the lingering crisis that led to the suspension of deductions under the scheme in April 2015 and ensure effective operation of the scheme in the state.”

According to him, the forensic audit has also become necessary in view of the findings of a committee set up by the new management board of the State Pension Board.

He added: “The administration of Governor Abubakar Sani Bello is committed to resolving the inherited lingering crisis associated with CPS in the state and it is worthy to note that the administration has recorded some milestones in the settlements of entitlements to beneficiaries of CPS”, he added

Orintunsin said the Pension Board management under Governor Bello had processed and paid 10 beneficiaries under the scheme to a tune of N23,826,578.16, adding that efforts were being made to get another set of 43 beneficiaries, whose entitlement of N35,510,471,89 paid.