Just In: FG Suspends Pension DG Over Multi Billion ‘Scam Exposed Through BVN’

The Director-General of the Pension Transitional Arrangement Directorate (PTAD) of the Federal Ministry of Finance, Nellie Mayshak, has been placed on indefinite suspension.

The Cable reports that Mayshak’s suspension is as a result of an alleged scam running into billions of naira which was recently discovered in the Directorate.

The PTAD oversees the management of pensions under the defined benefit scheme for pensioners not transiting to the defined contributory scheme.

While the report has little information on the details of the scam, investigation is said to be ongoing
by security agents.

The Biometric Verification Number (BVN) scheme introduced by banks was reported to have led to the discovery of several shady dealings in the directorate.

Mayshak is said to be the highest earning government official in the federation, with a monthly salary of N60 million.