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Business

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ICT

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Capital Market

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Stanbic IBTC Capital Clinches 4 Top Honours at AIHN Investment Banking Awards 2025

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Insurance

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GCR Upgrades NEM Insurance Rating to AA+ on Sustained Profitable Growth, Stable Outlook

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Business

Repton Group Wins 2025 Dangote Cement Largest Distributor Award

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MTN: The Best Mobile Internet Performance in Nigeria 2025

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Capital Market

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Stanbic IBTC Capital Clinches 4 Top Honours at AIHN Investment Banking Awards 2025

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Insurance

Royal Exchange CEO: Recapitalisation Will Reposition Insurance Sector, Support $1tn Economy Goal

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Sovereign Trust Insurance Strengthens Partnership with TEXEM UK

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GCR Upgrades NEM Insurance Rating to AA+ on Sustained Profitable Growth, Stable Outlook

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PenCom Debunks Allegation of Financial Impropriety Against its DG

Management would like to alert the public to the renewed campaign of outrageous falsehood against the National Pension Commission (PenCom) and its Director-General, Mrs Aisha Dahir-Umar, over some imagined financial impropriety. Although the promoters of this fiction went to the extent of manufacturing documents and listing non-existent bank accounts to make the fabrication look real, a fiction remains a fiction and can never become the truth no matter how many times it is repeated and recycled.

It was alleged that the Director General was paid millions of dollars as estacodes for foreign trips she did not embark upon in 2020. This poor attempt at calumny is exposed by the fact that there was a global lockdown in 2020 because of the COVID-19 pandemic during which international travels were restricted. Offices were shut down and most people had to hold virtual meetings. It is, thus, most outlandish to suggest that any government agency would claim to be paying allowances to its officials for international travels when most airports were shut down globally.

More so, official foreign trips require strict documentation, including air tickets, stamped passport pages and evidence of number of days spent. Rates for estacodes are standardised. If the DG were to spend two years abroad without returning to the country for one day, it would still be impossible for her to claim a million dollars as estacode. The desperate fabricators need to respect the intelligence of Nigerians.

We are aware of current political intrigues in the country caused by the jostling for appointments, but we believe there are more decent ways of going about it than peddling tales by moonlight and using notorious online outlets to push the lies to unsuspecting readers. The public is implored to ignore these fake documents and the discredited allegations being recycled at the slightest opportunity. The Commission has nothing to hide and will continue to run a transparent and accountable system.

Signed

MANAGEMENT

30 July 2023

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