Director General of National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, has described as “totally misleading” reports that the Commission gave a N10 trillion loan to the Federal Government. She also responded to claims that PenCom owed Federal Government retirees arrears of pensions and insinuations that Pension Fund Administrators (PFAs) were not fulfilling their obligations to retirees with regards to access to their retirement savings.
Dahir-Umar, in a media interview at the weekend, said: “Investments by PFAs in the securities of the Federal Government of Nigeria are not loans as erroneously portrayed, but investments in securities, through bonds and treasury bills, as approved by relevant government agencies, in this case the Debt Management Office (DMO) and Securities and Exchange Commission (SEC). “Moreover, pension fund assets are not managed by PenCo