The Federal Government has been advised to closely monitor the payment of pension arrears guaranteed by a ₦758 billion bond.
A financial expert, Professor Yushau Ibrahim Ango, gave the advice in Kaduna while reacting to reports that PENCOM had promised to complete the payment within three months.
Professor Yushau Ango explained that bonds were typically long-term financial instruments obtained from investors to settle government debts, which usually mature within a set period.
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He expressed concern that such funds should not be held in commercial banks by pension administrators for ulterior motives, stressing that any such action must not be tolerated.
The financial expert also emphasized the need for relevant authorities to comply with the presidential directive and ensure that pension arrears are paid without delay.
SULEIMAN KAURA
