House of Representatives Committee Queries National Pension Commission over How it Spends its Internally Generated Revenue.

House of Representatives Committee on Pensions has frowned at the Nigeria Pension Commission (PenCom) for spending it’s Internally Generated Revenue (IGR) without the approval of the National Assembly.

The Chairman of the Committee Rep. Alhassan Rurum (APC-Kano) expressed dissatisfaction for the expenditure at an investigative hearing on Thursday in Abuja. He said that manner in which the finances of PenCom were being managed by the commission’s management called for concern.

Also, the Deputy Chairman of the committee, Rep. Bamidele Salam (PDP-Ondo) said that the management of PenCom must explain the spending of N2.13 billion of PenCom’s IGR on administrative activities without approval.

“The committee also demands that the PenCom management explain the spending of N369 million of its IGR on ‘Miscellaneous Expenses. The spending of N731 million of its IGR on capacity building and the spending of N1.8 billion Operational and Monitoring Expenses’, among other huge expenses, all without the approval of the National Assembly,” he said.

Responding to the queries, the acting Director-General of PenCom, Hajia Dahir-Umar, attempted to make verbal clarifications of the issues raised. According to her, it is the right of PenCom to start spending its IGR without further recourse to the National Assembly as soon as the president signs the Appropriation Act into Law.

Her verbal explanations were, however, not accepted as the committee insisted on sighting documented approvals and evidence of appropriation for the 2019 spending of PenCom.

The committee gave the commission up until Monday, Dec. 9 to present to the committee the approvals for 2019 spending of PenCom. The committee also demanded the cash flow analysis for the IGR already spent and other necessary documents for clarity.