The director general of the Pension Transitional Arrangement Directorate (PTAD), Nellie Mayshak, has been suspended indefinitely.
She was suspended for an alleged fraud running into billions of naira discovered at the office of the Federal Ministry of Finance.
It was also uncovered that Mayshak placed herself on a 60 million Naira monthly salary.
The recent introduction of biometric registration by banks has exposed alleged shady deals in the pensions directorate.
According to report, however, the details of the alleged fraud are still sketchy, but the recently introduced biometric registration by banks has exposed many shady dealings in the directorate.
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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