REVEALED: Powerful 'godfathers' behind pension scam

Nigeria’s Senate said it believes that powerful “godfathers” are behind the pension fraud.

A Senate joint committee investigating the pension fraud involving hundreds of billions of naira has said it is confronting a cabal more powerful than the notorious fuel subsidy clique, and backed by very top government officials.

The Joint Senate Committee on Establishment, Pubic Service and Local Governments said it found out senior government officials were backing the Chairman of Pension Task force, Abdulrasheed Maina, who is at the centre of the scandal.

Mr. Maina has had a running confrontation with the senate panel for months after the committee named him as the main character in the disappearance of hundreds of billions of naira of pension savings.

He was appointed by the federal government to help sanitize a terribly fraudulent pension scheme that had drained the government of hundreds of billions over years.

But the committee said it found out more monies were stolen under Mr. Maina, and accused him of marshaling multiple fraudulent schemes to siphon money.

The discoveries ranked alongside the notorious fuel subsidy scam as the foremost scandals in 2012, and amongst some of the nation’s most complex schemes in history.

Mr. Maina has denied the charges, in turn accusing the lawmakers of accepting bribe and teaming up with the beneficiaries of past schemes who were uncomfortable with his reforms.

A preliminary report of the investigation that started since April was recently turned down by the senate assembly after Mr. Maina claimed he was denied fair hearing.

What has surprised the lawmakers more is Mr. Maina’s defiance despite the allegations, by repeatedly flouting the committee’s summons and directives.

At a scheduled meeting last week, to reconsider the report as directed by the senate, senators walked out of the venue of the meeting as Mr. Maina, who defiantly arrived late, was just walking in.

Another meeting is set for Wednesday.