Director-General of the Pension Transitional Arrangement Directorate (PTAD) of the Federal Ministry of Finance, Nellie Mayshak, has been placed on indefinite suspension over an alleged scam running into billions of naira.
The scam allegations are linked to the recently introduced biometric registration by banks which reportedly exposed a lot of questionable dealings in the directorate. Security agents have already swooped in on the office to carry out investigation after a damning audit report.
A director from the office of accountant-general of federation has been appointed as the acting DG, while the investigations are being carried out, the CABLE reports.
Nellie Mayshak is the pioneer Director General of the Pension Transitional Arrangement Directorate (PTAD).
PTAD was established in August 2013 under the Pension Reform Act (PRA) of 2004 to oversee the management of pensions under the defined benefit scheme for pensioners not transiting to the defined contributory scheme.
Previous investigations by the Economic and Financial Crimes Commission (EFCC) have revealed the ulcered underbelly of pension management in the country.
On November 2, 2015, Abdulrasheed Maina, former chairman of the Pension Reform Task Team, a committee set up to clean up the pension system, was declared wanted by the anti-graft agency for alleged complicity in the stealing of N2bn pension funds.
He was said to have connived with Stephen Oronsaye, former head of the federal civil service, who is now facing trial at the federal high court, Abuja, for the alleged offence.
Also, on March 8, one Mohammed Ahmed Katun, a former assistant director, Pension Account, office of the head of service of the federation, was arraigned on a 12-count amended charge bordering on diversion of pension funds to the tune of N81.4m before Justice Ahmed Mohammed of the Federal High Court, Abuja.