For allegedly mismanaging pension funds, AIICO Pension Managers and Fidelity Pension have come under scrutiny at the House of Representatives.
At the hearing today, The chairman of the House Committee on Pension Hon. Kabir Alhassan Rurum (APC, Kano) condemned the attitude of the two companies for not honouring the House invitation.
He said the House would not accept any presentation from representatives of the PFAs especially when there was no written communication to the House mandating them to do so.
Speaking to newsmen after the brief session, the chairman said: “The committee has the constitutional rights and mandate to invite anybody in the pension industry to come and explain issues of public importance. And we didn’t summon them; we only invited them to come because the Pension Reform Act of 2014 has given us the right to do so.
“Moreover, there are a lot of complaints and counter-complaints against AIICO and Fidelity Pension. Based on that, they were invited. But unfortunately, the managing directorship or chief rxecutive officers of the two important agencies refused to come. Based on that, the committee decided that they appear in person.”
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The Regional Manager of AIICO Pension, Temitope Ajegboje, told the lawmakers that they got the invitation on Friday, but that the managing firector could not honour the invitation because of medical emergency.
A member of the committee, Hon. Chudi Momah said even if the MD wasn’t going to be present, it shouldn’t have been the regional manager that should represent him, more so that there was no written authorisation empowering him to answer critical questions from the committee.
Momah therefore moved that the MDs and CEOs must make themselves available to the committee or face the consequences therefrom.
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