THE ANATOMY OF PENSION FRAUD IN NIGERIA — by Agbata, Ekwueme. and Jeroh
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Economic Horizons, September – December 2017, Volume 19, Number 3, 181 – 192 UDC: 33 eISSN 2217-9232
© Faculty of Economics, University of Kragujevac – www. ekfak.kg.ac.rs
Review paper = UDC: 368.914 doi:10.5937/ekonhor1703179A
INTRODUCTION
The development of a viable and workable pension scheme in Nigeria has always been clamored not only by pensioners, but also by notable stakeholders and the general populace. This is the reason why the Government of Nigeria decided to adopt the structure of the Chilean-Styled Pension Scheme as a way of dealing with the challenges posed by the previously adopted defined benefit scheme. According to Y. Demola (2008), this decision of the Federal Government of Nigeria has changed the funding structure of the pension scheme in the country from the usual Pay-As-You-Go (PAYG) to the Contributory Pension Scheme (CPS).
