N9trn PenCom fund: Reps threaten to issue bench warrant on PFAs

House of Representatives threatens to issue a bench warrant to compel Pension Fund Administrators to appear before its ad hoc committee if they fail to attend the public hearing on April 4.

Rep Johnson Agbonayinma (APC-Edo), Chairman, Ad hoc Committee to Investigate the Activities of National Pension Commission and its administrators, gave the warning on Wednesday in an interview with newsmen in Abuja.

The News Agency of Nigeria reports that the House had, after a resolution passed in February, ordered the committee to commence investigations into the activities of PenCom since April 2017 over allegation of violation of the Act establishing the commission and the N9trn pension fund controversy.

However, the Pension Fund Operators Association of Nigeria (PenOP) had, in two separate letters dated Jan. 28 and April 2, informed the committee that the PFAs would not be able to appear before the committee on Jan. 29 and April 4.

PenOp had, in the letters, attributed the reason the PFAs would not attend the meetings ”to prior engagements slated for the same day.”

Agbonayinma, who cautioned the PFAs against disobeying the order of the House, said the PFAs and other stakeholders in the industry were deliberately avoiding the ad hoc committee.

According to him, the pension association, which the committee did not write letters to or invite, has no right to derail the lawmakers from holding the investigative hearing.

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