SENATE PROBES ALLEGED MISSING PENSION FUND FOR FORMER STAFF OF DEFUNCT POWER HOLDING COMPANY.

The Senate has opened investigation into the alleged missing twenty-seven billion Naira meant for the payment of the  Pension  of former Staff of the defunct Power Holding Company of Nigeria.

The probe by the Senate follows a Petition by the disengaged Staff under the aegis of National Association of Disengaged Staff of Power Holding Company of Nigeria.

Presenting the petition before the Senate Committee on Ethics, Privileges and Public petitions, the Deputy Chairman of the  PHCN Workers, Alhaji Lawal Magini, told the  Panel that it relied on some Media reports alleging that twenty-seven billion Naira  meant to clear Pension was approved and paid but was diverted by a private insurance  Company, Best Worth Insurance  Brokers

The Workers through their lawyer, Emmanuel Okere, told the Senate Panel that the matter was currently being investigated by the Economic and Financial Crimes Commission.

The Chairman of the Panel, Senator, Ayo Akinyelure, advised the Petitioners and their Lawyers to furnish his Panel with more documentary evidence to drive its investigation to logical conclusion as it could not rely solely on circumstantial evidence.