No mismanagement of funds — AIICO Pension

Pension Fund Administrator (PFA), AIICO Pension, has said contrary to reports in the media, there are no allegations of mismanagement of pension assets levelled against its management.

The management debunked the claim in a release titled: “Media Reports on Probe of Mismanagement of Pension Funds by The House of Representatives”.

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The statement reads in part: “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 had cause to be invited to interactive sessions such as the one cited in the media reports, we always honoured the invitations.”

AIICO further disclosed that all documents requested by the committee were submitted.

The PFA added that, “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.”