The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Pension Transitional Arrangement Directorate (PTAD) have agreed to sign a Memorandum of Understanding (MoU) aimed at combating fraud in Nigeria's pension administration system.

The announcement was made on Thursday by ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, during a courtesy visit by PTAD's Executive Secretary, Ms. Tolulope Abiodun Odunaiya, and her management team to the Commission's headquarters in Abuja.

Dr. Aliyu expressed deep concern over the persistent difficulties retirees face in accessing their benefits due to corrupt practices within the pension system. He emphasized the Commission's readiness to collaborate with PTAD to enhance transparency and accountability in pension management.

"The issue of pensions is very close to my heart, particularly because of the hardship our senior citizens endure just to receive their entitlements," said the ICPC chairman. "There is a clear need for this MoU to enable both organisations to jointly combat fraudulent activities and ensure a more efficient pension administration."

The ICPC boss noted that corruption in the pension sector extends beyond PTAD, affecting the Contributory Pension Scheme and other related initiatives. He called on PTAD's management to establish offices across all states of the federation to improve accessibility for pensioners nationwide, which would facilitate the smooth implementation of the proposed MoU.

In her response, PTAD's Executive Secretary Odunaiya expressed gratitude to the ICPC for supporting efforts to sanitize the pension system. She highlighted PTAD's significant reforms over the past 12 years under the Defined Benefit Scheme (DBS), which have streamlined processes including verification, benefit computation, payments, and complaints resolution.

"Our efforts have significantly reduced the hardship faced by pensioners. However, we are increasingly challenged by fraudsters who target vulnerable retirees. We also face setbacks such as prolonged investigations and delays in prosecution, which hamper our ability to deter pension-related crimes effectively," Odunaiya stated.

Both organizations agreed that the forthcoming MoU will establish a framework for closer collaboration, with the shared objective of enhancing accountability and eliminating corruption in Nigeria's pension administration system.