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Pension: Stop Endangering Retirees Funds – CSO Warns Duru

Workers Rights Protection Network cautioned former VC of First Guarantee Pension Hon Chidi Duru to stop jeopardizing the welfare & funds of retirees

A Civil Society Organization, Workers Rights Protection Network (WORP) has cautioned the estranged former Vice Chairman of First Guarantee Pension Ltd (FGPL) Nze Hon. Chidi Duru to stop taking any ignoble action that may jeopardize the welfare and funds of the retirees who made their pension contributions in the PFA.

WORP remarked further that the takeover of the management of FGPL by National Pension Commission is for public interests. 

The Executive Secretary of WORP, Comrade Rauf Idowu who was reacting to on-going feud between Hon. Chidi Duru and Interim Management of FGPL in a chat with newsmen in Lagos recently warned Nze Duru that the retirees are bound to suffer fatal injuries with his failed forceful takeover of the management of the company.

Comrade Idowu condemned the forceful and unilateral takeover attempt of the management of FGPL by Duru as reckless, uncivilized, irresponsible because Duru ought to have collaborated with relevant law enforcement agencies for such action or go back to the same court which gave him the order and report any contempt. 

The rights activist remarked that since the takeover of the management of FGPL by the National Pension Commission, the funds of the company have been well-managed with its asset base increasing from N38 Billion to N120 Billion and net profit of about N3Billion recorded within the four years of the interim management.

WORP regretted that the era of Hon. Duru as the Vice-Chairman was characterized by reports of rancor and bitterness, in-fighting multiple litigations, dubious investments, fraud, forgery, misappropriation and illegal diversion of public funds into private pockets which almost ruined the place until National Pension Commission sanitized the place.

The CSO was miffed that the allegations of financial and management misconducts and atrocities leveled against Hon. Duru by the Chairman of the Interim Management Board of FGPL, Alhaji Kashim Imam are so weighty and indicting to be swept under the carpet.

Comrade Idowu observed that the war-like attitude of Hon. Duru and the reports of financial misdeeds against him are not conducive for the running and management of any pension funds administration in Nigeria.

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