We are aware of recent reports in the media citing a probe by the House Committee on Pensions
on the alleged mismanagement of pension assets in which AIICO Pension and our Managing
Director, Mr. Eguarekhide Longe were mentioned.
We would like to clearly state that we have always enjoyed a cordial relationship with the
legislative arm of Government and routinely, in the past when we have had cause to be invited to
interactive sessions such as the one cited in the media reports, we have always honored the
invitations.
On this occasion, in spite of the short notice, our Managing Director intended to honor this
invitation in person. However, shortly before he was expected to travel to Abuja, he realized he
wasn’t feeling too well, and given the strict travel protocols occasioned by the Corona virus disease
he thought it wise to stay back and have our Regional Manager resident in Abuja, Mr. Temitope
Ajogbeje, attend in his stead. Because of the impromptu circumstance surrounding his inability to
travel, there was no time in which to formally inform the Committee of his inability to attend.
As requested in the invitation letter received from the Committee, we ensured that all documents
requested by the committee were submitted. The documents requested were – our annual reports
and audited accounts for 2017 – 2020, evidence of remittance of pension contributions to our
pension fund custodian, list of our shareholders, minutes of our Annual General Meetings,
evidence of maintaining a statutory reserve fund and lastly our monthly reports on fraud, forgery
and theft to the National Pension Commission (which were nil for the reporting periods
requested).
Contrary to the reports in the media, there are no allegations of mismanagement of pension assets
levelled against AIICO Pension and we use this opportunity to reiterate our transparent
commitment to uphold our fiduciary responsibility to our account holders at all times.
Signed
Corporate Communications Team
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