The Federal High Court sitting in Lagos has granted leave to the Incorporated Trustees of Laws and Rights Awareness Initiative to file an action for judicial review against the National Pension Commission in Suit No. FHC/L/ 1254/2018.
Counsel to the NGO, Olumide Babalola, is praying the court for an order of mandamus compelling 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; 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.
On Monday, 8th day of August 2018, Justice Ayo Emmanuel granted leave to the NGO which has swiftly filed and served the Commission with the court process and the matter has been adjourned to 5th November 2018 for hearing in Lagos.