Reading the article of Hadiza Mailafiya, anyone outside the Pension industry might be tempted to believe Mrs. Chinelo was the best thing to ever happen to the Pension Industry, however, the article was cleverly crafted and in some cases deliberately misleading and also an attempt to obfuscate the facts surrounding her stewardship of PenCom since 2012.
No doubt Chinelo was part of the Fola Adeola Committee (Nominated by BPE) that midwifed the Birth of PenCom, however Her role in the said committee is not known more than her membership unlike the others some of whom received Presidential letters of commendation for key roles played. Her emergence as the Legal Secretary of PenCom is credited to her closeness with Nasir El Rufai rather than anything else. This is a fact as Nasir El Rufai reiterated same during the PenCom stakeholders Forum held in Kaduna in 2015.
Mailafiya also insinuate that the Growth of Pension asset from 2.9 Trillion in 2012 to 6.5 trillion in 2017 was a Major achievement of the DG while ignoring the Fact that Pension assets is a long term fund and would have grown with or without Chinelo as the DG in fact as Dr Musa (Pioneer Commission of Inspectorate in PenCom) started in the Kaduna Forum PenCom shouldn’t go round advertising the growth of asset as an achievement because that is at best misleading. If there is anybody to take credit for the growth of the asset it should be the PFAs who continuously work hard to sell the scheme more than PenCom under Chinelo can ever dreamt of.
Another deliberate attempt by Mrs. Chinelo to prove that she is the reason PenCom asset grew is her announcing the growth of Pension asset at every forum while deliberately not telling the Public the assets are mostly invested Federal Government instruments and as such the amount is not a Liquid cash laying somewhere and can be recalled immediately to be invested in infrastructures as the Public has been demanding of Late.
Hadiza also talk of the amendment of the Pension Reform act 2004 as the achievement of her Amazonwhile only highlighting the establishment of PTAD, However she deliberately was silent on the Fact the Act was amended Primarily to enable Mrs.Chinelo become the DG as the former act stipulate the Minimum years of experience required to become a Dg as 20 years’ Experience and Chinelo only had 15 years, hence through lobby sometimes involving cash and kind the Senate amended the act and reduce the required age to 15 years and there after Mrs. Chinelo was appointed. This is the First case in the History of Nigeria where an act was amended to suit the ambition of someone and in fact it can only happen under the leadership Goodluck Jonathan because then everything goes.
It’s on record all the Members of both the Senate and the Reps and the Labour Union where given number of slots in PenCom and that is the reason all the People hired in PenCom under Chinelo were taking there by either a senator, Member of Reps, NLC and TUC or other strategic party to fulfil her ambition.
Another Charade embark upon by Mrs. Chinelo during her days in PenCom is the Continues Hosting of a lesser known event known as the World Pension Summit Africa Special where industry Players are coarse to pay Millions for representatives. Chinelo and her Founders cum Partners are the only ones who will ever explain what the World Pension Submit is because to many people its pure Business for some Hague based entrepreneurs who have little knowledge on Pensions, The founders of the submit are not even recognized authority in PenCom. An industry player once started the submit is always part of her game plan as during Goodluck era she only invite the GEJ people and the only one she hosted under PMB the only people she invited where the El Rufais Tunde Bakares and other APC guys.
Truth is Mrs. Anohu-amazu is consumed by her Politics she for one was only interested in her survival not that of the scheme.
The actions of the Federal government was long overdue as the Regulator under Hadiza’s amazon was a Political Pawn in the Hands of Chinelo now is the time to clean up.
*****Laburu, Pension Analyst has writes from Abuja