By Baron Ike
The Federal Government of Nigeria on Monday, May 8 inaugurated an inter-ministerial committee to review all its pensions liabilities and come up with strategies to offset them.
The Minister of Finance, Kemi Adeosun who was named as the chairman of the committee also has other members such as the Accountant General of the Federation, Ahmed Idris and the Director-General of the Budget Office of the Federation, Ben Akabueze, among others.
President Muhammadu Buhari was said to have given approval for the constitution of the panel before he left for London on Sunday, May 7 in continuation of his medical checks.
However, Adeosun said that the terms of reference include to review and reconcile all pension liabilities and make recommendations as to what portion of such liabilities can be funded through budget appropriations, and also to suggest ways of funding the balance.
A statement signed by the Director of Information in the Ministry of Finance, Salisu Dambatta, quoted Adeosun as charging members of the committee to identify any pension assets that could be in suspense and ensure that such funds are used in offsetting the liabilities.
The Minister reportedly also requested that members of the committee should set up mechanism that would facilitate regular payments of pensions through budgetary allocations.
Meanwhile, the National Pensions Commission has released schedule for the payment of pensions to civil servants who retired last year. Affected retirees have been advised to approach their pension administrators for proper data assessment and payment.