Journal • CITN Journal

Editorial Board

Editor-in-Chief

Professor Rafiu Oyesola Salawu

Department of Management & Accounting, Faculty of Administration, Obafemi Awolowo University, Ile-Ife

Managing Editor

Professor Godwin Emmanuel Oyedokun

Department of Management & Accounting, Lead City University, Ibadan, Nigeria

Editorial Board Secretary

Mary-Fidelis Chidoziem Abiahu

Director, Research and Professional Standard, Chartered Institute of Taxation of Nigeria

Editorial Board Members

Professor Chinedum Nathaniel Nwezeaku

Federal University of Technology, Owerri

Professor John Adeoti

Nigeria Institute of Social and Economic Research (NISER), Ibadan

Professor Uche Jack-Osimiri

Faculty of Law, River State University, Port Harcourt

Professor Aruwa Suleiman Akwu-Odo Salihu

Nasarawa State University, Keffi Nasarawa State Nigeria

Dr. Eiya Ofiafoh Ofiafoh (Associate Professor)

Department of Accounting, University of Benin, Benin City, Nigeria

Dr. Stephen Chukwuemeka Mark Abani

MCSA Worldwide Projects Limited, Abuja, Nigeria

Dr. Kenny Adedapo Soyemi

Department of Accounting, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria

Professor Joseph Uchenna Uwaleke

Department of Banking & Finance, Nasarawa State University, Keffi Nasarawa State, Nigeria

Barrister Chukwuemeka Eze

Faculty of Law, Nasarawa State University, Keffi Nasarawa State, Nigeria

Mr. Simon Nwanmaghyi Kato

Federal Inland Revenue Service, Chairman’s Office, Abuja, Nigeria

EFFECTIVE MANAGEMENT OF PENSION FUNDS TOWARDS FRAUD REDUCTION AND GOOD PENSION SCHEME IN NIGERIAN PUBLIC SECTOR

Description

EFFECTIVE MANAGEMENT OF PENSION FUNDS TOWARDS FRAUD REDUCTION AND GOOD PENSION SCHEME IN NIGERIAN PUBLIC SECTOR

Authors

Amaka Elizabeth Agbata, Paradise Josephine Obada and Tochukwu Nkem Akaegbobi

Abstract

This research examined effective management of pension funds that will reduce pension fraud and bring about good pension scheme in Nigerian public sector. The need for it arose due to increased mismanagement and embezzlement of pension funds by those charged with its management. Survey research method was employed and population comprised 435 stakeholders in the scheme. Data were collected from primary source (through questionnaire designed on continuum 1-5 Likert Scale) and were analyzed using descriptive statistics and multiple regression analysis with the aid of Minitab ver. 17. The Model - Effective Management of Pension Funds in Nigeria developed by the study was applied in representing independent and dependent variables. Effective Management of Pension Funds in Nigeria was the indicator applied as independent variable and reduction in pension fraud motive, adequate diversification of pension funds assets, strictest anti-fraud measures and compliance with the provisions of Pension Reform Act were the indicators in the model which were applied as dependent variable. The Model provides that for the effective management of pension funds in Nigeria, the indicators have to be implemented. Finding disclosed that the level of compliance of those in charge of managing pension funds with corporate governance practices for pension scheme was low. The study concluded that if fraud is reduced or even eliminated from the management of pension funds in Nigerian public sector, Nigeria will have good pension scheme of her dream.

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