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Pension management: Oyo-Ita plans to dissolve PTAD

*For their manifest failure to manage pension

*OHSF to take over pension management again

Mrs Winifred Oyo-Ita, the Head of Service, is set to dissolve the Pension Transition Arrangement Department (PTAD) which was designed to takeover the Abdulrasheed Maina-led Pension Reform Task Team (PRTT) for the manifest failure of the former to manage the nation’s pension sector.

Authoritative sources in the Office of the Head of Service of the Federation (OHSF) disclosed that presently there is a high cash squeeze therein. Before the Maina committee was set up, it is from the pension sector we normally use to buffer situations like this. Since the PTAD itself is not delivering on its mandate, the decision is to scrap PTAD and return pension management to the Head of Service.”

The current National Assembly inquisition has been the basis for why the decision has not been taken all the while. So, as it is, the decision may be implemented after the inquisition is concluded. Fact is, the decision has been discussed and agreed.

Hon Ngozika Ihuoma, the Executive Secretary of Legislation Watch, when approached on what are the implications of this planned move, he quipped, “I will not doubt your source because from time, Mrs Oyo-Ita has been a part of the mess. She was Director, Finance and Administration (DFA) during the period the 43 pension suspects operated.”

“Apart from that, PTAD is a creation of the law, it is empowered by Section 30, Sub Section (2a) of the Amended Pension Reform Act, 2004, and it is expected to take over the management of three of the offices presently running the old pension scheme. These are the Civil Service Pension Department, the Police Pension Office and the Customs, Immigration and Prisons Pension Office (CIPPO).

When PRTT was becoming too big for them, that was when suddenly the “evil servants” decided to activate the law to substitute for the PRTT that was unearthing all the terrible stealing going on there.”

“I suspect that they are broke and there is no cheap places to steal money again that is why they are scheming to return pension management to the Head of Service where they input ghost pensioners into the list to enable them have access to the monies.

“Please advise them not to try to implement that obnoxious decision of theirs. If they do, there will be trouble on their hands. PTAD is a creation of law. They cannot now come and start planning another evil to scrap PTAD. They have finished using PTAD abi? There are massive frauds inside the PTAD but that will come later,” the former House of Representatives member said.

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