PRESS RELEASE 

President Muhammadu Buhari has approved the constitution of an inter-ministerial committee on pension liability to reconcile outstanding pension liabilities and proffer solutions to the lingering problems.

Minister of Finance is the chairman. 

Other members of the committee include a representative of Secretary to the Government of the Federation, representative of Head of Service of the Federation, Accountant General of the Federation, Director General of Budget Office, Director General of PENCOM, and Director General of PTAD who will also act as Secretary.

The Committee is to:

1. Review and reconcile all pension liabilities of the Federal Government.

2. Make recommendations as to what portion of the liabilities can be funded through budgetary appropriations.

3. Suggest creative ways of funding the balance.

It has four weeks to conclude its assignment and report back to the President.

It would be recalled that Minister of Budget and National Planning, Senator Udoma Udo Udoma and his Finance counterpart Mrs Kemi Adeosun, appeared before House of Representatives on Thursday where they informed members of the approval by the President for the setting up of the Committee.  

Signed

Akpandem James

Media Adviser to the Hon. Minister