PTAD recovers N16 billion in funds and assets

PTAD recovers N16 billion in funds and assets

The Pension Transitional Arrangement Directorate (PTAD) has so far recovered a total value of N16 billion both in funds and assets, mostly from NICON Insurance.

Sharon Ikeazor, Executive Secretary of PTAD disclosed this in Abuja on Friday stating that the directorate has so far made progress as regarding the recovering of Legacy Pension funds and assets which has reached a total value of N16 billion.

She said ” In the past ten months, progress has been made in recovering the Legacy Pension Fund and assets and we have recovered about N16 billion in funds and assets, most of which were from NICON Insurance”.

According to her, the directorate is working on ensuring that the verification process for the civil Service and Parastatals pensions is completed in 2017 adding that the police and paramilitary verification were completed in 2015, as well as the South East, North West, North East and South South zones of the Civil Service has been completed with South West and North Central in progress.

Ahmed Idris, Accountant General of the Federation who was represented by Iyang commended the directorate on its fight against corruption and urged that PTAD continue in its fight stressing that some individuals are into the pension system because of their personal interest.

He said ” I commend PTAD and urge that the directorate continue it’s fight against corruption in the pension system because some people are into the system for what they can get out of the system”.

Ayuba Wabba, President Nigeria Labour Congress explained that pension payment is a priority in the nation stressing that NLC will continue to partner with PTAD to ensure that all pensioners receive their entitlement and as at when due.

He said “Pension payment is a priority for us as country and we will continue to partner with PTAD to ensure that all pensioners are treated well and given the right attention they deserve.

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