FCTA remitted N3.2bn to PENCOM in 2013 - Minister

The FCT Administration remitted N3.2 billion to National Pension Commission in 2013, a statement said in Abuja on Friday.

The statement, signed by Mr Muhammad Sule, the Chief Press Secretary to the FCT Minister, said the remittance was the contribution of staff of the administration and those of the six area councils.

It said the payment was done after due reconciliation between officials of the FCT Administration and PENCOM.

The statement added that about N200 million would be worked out to pay the commission as the outstanding contribution of the FCT pension fund.

It quoted the Minister of the FCT, Malam Bala Mohammed, as advising the management of the commission to invest the huge amount on infrastructural development instead of leaving such funds idle.

'The commission can check the law that established it in order to go into partnership with genuine investors to use such funds available thereby reducing the over dependence on foreign capital inflow.

'Such partnership can be guaranteed by a reputable bank in the country to take off the risk aspect of the investment from the commission.

'For instance, the Abuja Master Plan has about 79 districts with nine sector centres in the Federal Capital City and only 11 districts as well as two sector centres are developed.

'About 80 per cent of such districts have not been attended to due to the paucity of funds,' it said.

The minister promised to make land available to the commission to build its headquarters. NAN