FLASH: Pension DG, Mayshak suspended over alleged fraud

The pensions director general, Nellie Mayshak, has been suspended indefinitely
– She is accused of an alleged multi-billion naira fraud
– Mayshak was on a monthly salary of N60 million – The recent introduction of biometric registration by banks has exposed alleged shady deals in the pensions directorate The director general of the Pension Transitional Arrangement Directorate (PTAD), Nellie Mayshak, has been suspended for an alleged fraud running into billions of naira discovered at the office of the federal ministry of finance, The Cable reports.
With investigations currently on-going, Mayshak has been placed on indefinite suspension as it was alleged that she was on a monthly salary of N60 million – thought to be the highest for any government official in the federation. PTAD was established in August 2013 under the Pension Reform Act (PRA) of 2004 to oversee the management of pensions under the defined benefit scheme for pensioners not transiting to the defined contributory scheme.

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