N4.1 Billion Pension Fraud: EFCC Recovers, Hands over 324 Houses to Kano Pensioners
The Abuja Zonal Command of the Economic and Financial Crimes Commission, EFCC, has handed over documents of properties and 324 houses recovered for Kano state pensioners to them.
The handing over of the houses, occasioned by a final forfeiture order granted by Justice I.E. Ekwo of the Federal High Court sitting Abuja, was a result of successful investigations carried out by the Commission over a N4.1billion Pension Trust Fund contributed by the pensioners to own houses, which was fraudulently denied them by two successive administrations in Kano State.
The Commission investigated a petition by Concerned Kano State Workers and Pensioners of alleged misappropriation of pension funds in the state. Findings by the EFCC showed that the state government entered into a tripartite agreement with the Kano State Pension Trust Fund to build housing estates for an aggregate sum of N41billion (Forty One Billion Naira), out of which the Pension Trust Fund was to contribute N4.1billion (Four Billion One Hundred Million Naira).
However, the contribution of the pensioners was used to build the houses in three estates located in Sheikh Ja’afar Mahmud Adam Bandirawo city, Sheikh Nasiru Kabara (Amana) city and Sheikh Khalifa Ishaq Rabiu city, all in Kano state and two former governors of the state fraudulently discounted and sold the houses to their cronies and associates, leaving the pension trustees with low budget and uncompleted houses. The EFCC stepped in and upon completion of investigation, filed for and acquired a final forfeiture order of the 324 properties to the Kano State Pension Fund Trustees.
While handing over the documents of the 324 properties worth N4.1billion to the pensioners on Monday, March 18, 2024, the Abuja Zonal Commander of the EFCC, Assistant Commander of the EFCC, ACE I Adeniyi Adebayo assured that the EFCC would continue to do its best to rid the nation of fraudulent practices. Representatives of the Kano State Pension Board, Alhaji Hassan Muhammed Aminu, Kubra Ahmad Bichi and Salisu Yakubu Abubakar, who received the documents on behalf of the workers and pensioners, expressed delight and joy with the EFCC for assisting them in recovering their houses.
Be the First to Know – Follow PensionNigeria WhatsApp Channel Its Free – Click here to follow our WhatsApp Channel
Support PensionNigeria
Support PensionNigeria financially with N1,000 per Month HERE, or with any amount ONCE (One Time Only) HERE
Empower us to do more independent analysis of the Pension Industry in Nigeria
Be the First to Know – Follow PensionNigeria WhatsApp Channel
Its Free – Click here to follow our WhatsApp Channel
Don’t Miss Anything Subscribe to PensionNigeria Newsletter on Substack
Once you Subscribe, we immediately send you an Email.
Please check your Inbox and SPAM folder.
If the Email is in your SPAM folder, kindly move it to your Inbox and add pensionnigeria@substack.com to your address book or contacts.
If you have subscribed before and you still do not receive our Newsletter,
please check your “Spam Folder”, if you find our Newsletter there, mark it as “NOT SPAM” or move it to your Inbox
Check here for Recent PensionNigeria Newsletter
Follow PensionNigeria on Social Media
Like our Facebook Page
Follow us on Twitter, Instagram & LinkedIn
Subscribe to our Channel on YouTube
Grow Your Personal Investment with Stanbic IBTC Asset Management
Pension is Your Right,
An Insurance for Old Age
Follow PensionNigeria on Social Media LinkedIn Twitter Instagram Facebook YouTube