N2bn Pension Fraud: Board Clears Kwankwaso

imageThe Kano state Pension Trust Fund has cleared former Kano state governor, Rabi’u Musa Kwankwaso of the allegation that he mismanaged pensioners’ money amounting to N2 billion.
Debunking the allegation, the board said Kwankwaso had never put the state pensioners’ money to any bank as fixed deposit because he had no right to invest the pensioners’ money. The permanent member of the board, Alhaji Alassan Abubakar Kabiya, said all the accusations about Kwankwaso mismanaging N2 billion pension fund was far from the truth.
“We heard that pensioners petitioned EFCC about alleged mismanagement of N2billion by former governor of Kano, Rabi’u Musa Kwankwaso. This is not true because Kwankwaso has no right to use pension money for any investment and there was nothing like N2 billion,” he said.
He said the board has issues with Euro Bank Plc, which was liquidated.
“The money deposited in Euro Bank was N100 billion, when the bank was liquidated the issue was referred to the Nigeria Deposit Insurance Corporation (NDIC) and they have started paying us, so far they have paid N200,000.”
He said they never knew the person who petitioned the commission and that the person never copied the board any of the petition.

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