PenCom requested that banks close the accounts of people who have been reported as dead so that they are unable to open bank accounts in the future in addition to other means of verification.
The commission also referenced the case of a spouse who faked the death of her husband, adding that they would go tough on their methods of verification to curb the trend.
He said: “Nigerians have been dying and resurrecting. If you send us a notification that you are dead, we will make sure that your bank blocks your account also.
“We have seen people fake their deaths; we have seen spouses fake the deaths of their partners when the PFAs start the due process.
“In fact, in a particular case, they were processing a man’s death benefit and he walked in and everybody picked up. The wife had actually procured an obituary announcement, everything that required to be done without the man knowing.
“There was a particular case, we called the man and he said yes, he arranged his death that he needed the money.
“So, the PFAs shall seek the commission’s approval to get the legal beneficiaries and the available balance in the deceased RSA account. For any deceased RSA account, the PFA must send the request to the commission for approval.
“Following these complaints and reports by the PFAs, it has become imperative to issue additional measures to curb these complaints and strengthen the processes and practices of processing and payment of death benefits.”
