NO MONEY MISSING FROM POLICE PENSION FUND
Contrary to media reports, the sum of N24 billion is not missing from the Police Pension Fund.
As the Coordinating Minister for the Economy and Minister of Finance Dr Ngozi Okonjo-Iweala told the Senate Joint Committee on Pensions Administration at a public hearing in March 2012, she ordered the account frozen to prevent fraud based on reports of suspicious transactions.
Of the amount in the account, N24 billion was discovered to be an over-estimation of pensions arrears.
The money was subsequently returned to government coffers as is the standard practice.
Paul C Nwabuikwu
Special Adviser to the CME/Minister of Finance
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