A Non-Governmental Organization, Laws and Rights Awareness Initiative have asked the Federal High Court to compel the National Pension Commission to disclose the sum total of the entire pension funds and assets in the custody of Pension Funds Custodians as at the 30th day of June 2018.
In the Suit with No. FHC/L/ 1254/2018 filed at the Federal High Court Lagos, the NGO is also seeking an order of court compelling the Defendant to disclose Information on investments strategy, market returns and other performance indicators as provided to the Commission by all the Pension Funds Administrators as at 30th day June 2018 under section 55(d) of the Pension Reform Act 2014 and Statistical analysis on the investments and returns on investment with respect to pension funds in the custody of the Pension Funds Custodians as at 30th day of June 2018 under section 57 (f) of the Pension Reform Act 2014.
According to Olumide Babalola who is counsel to the NGO, Justice Ayo Emmanuel has granted leave to the NGO to file the action for judicial review against PenCom and same has been filed and served on the Commission.
The suit has been adjourned to 5th November, 2018 for hearing.
Attached is a Copy of the court processes