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Stanbic IBTC, Tech Mahindra In Pension Fraud Saga
+How Bank’s ED Connived With Tech Mahindra to Defraud Airtel Nigeria

First Bank Nigeria


Reliable information from perching birds has revealed to societyreelnews, the alleged involvement of Stanbic IBTC pension managers in pension fraud rocking Tech Mahindra, an Agent of Airtel Telecommunications Nigeria.

As terms of agreement between Airtel Nigeria and Tech Mahindra, payments of staffs will be done by Airtel to Tech Mahindra depending on the man power needed. And Stanbic IBTC was employed by Tech Mahindra to take charge of the payment of pension for staffs.

Our source revealed to us that, Tech Mahindra is working below the man power known to Airtel telecomms. Explanatorily, Airtel pays for employed 50 personnel while Tech Mahindra in reality has downsized to 20 personnel.

This mischievous act by Tech Mahindra has been on for long, Airtel Nigeria keeps paying for multitude of staffs while Tech Mahindra Management and Stanbic IBTC who is expected to manage the account for sacked staffs, keeps harboring them.

The Sola David-Borha led Stanbic IBTC allegedly connived with Tech Mahindra to perpetuate the fraudulent act with the aid of one of its Executive Directors who has been linked with siphoning the pension funds being paid into the bank by Airtel Telecomms for employed staffs.

Whispers in town presently is that staffs whose appointments has been terminated by Tech Mahindra still collects salaries from Airtel Nigeria with pensions deducted by Stanbic IBTC. Another finding revealed that sacked workers pensions are still with Stanbic IBTC with the intension to share it with Tech Mahindra at the end of the financial year.

Tech Mahindra have in the past being linked to threatening Airtel Telecommunication networks causing several network glitches for Airtel customer due to misunderstanding that generated between the duo some months ago.

Efforts to get the reactions of Mr. Ayo Maku, Human Resources executive of Tech Mahindra, proved abortive as several calls made to him were ignored.

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