Kogi State Government said it has revealed a N4.3 billion annuity extortion executed under
the administrations of ex Governors of the State, Ibrahim Idris and Captain Idris Wada between 2010 – 2015.
The Director General, Media and Publicity to the state governor, Mr. Kingdsley Famwo who stated this over the weekend said the fraudulent acts was revealed through an Audit exercise embarked upon by private auditor mandated by the state governor, Yahaya Bello.
Fanwo said the audit report shows that the syndicate diverted the pension and gratuity funds to private accounts, using names of unintended beneficiaries to the detriment of pensioners in the State.
He said, “On assumption of Office, the Executive Governor of the State, Alhaji Yahaya Bello, miffed by the level of unpaid pensions in the state, ordered a comprehensive audit of pension funds in the State.
The revelations of the Audit has been mind-boggling, revealing the humongous fraud in the pension administration under the two administrations in the State.”
Fanwo said the Governor saddened by the development has ordered immediately that those found guilty be prosecuted, “His Excellency, Yahaya Bello has expressed disappointment over the unfortunate diversion of pension funds during the last two administrations in the State. He has found it very hard to understand how people put in authority could punish the senior citizens of our dear State by diverting monies meant for their pensions and gratuities into private pockets.