December 1, 2022

Pension directorate disburses N610bn in 6 years

The Pension Transitional Arrangement Directorate (PTAD) said it has doled out over N610 billion in monthly pension payments to senior citizens between January 2015 to December 2021.

This is in addition to repatriating £26.5 million from Crown Agents Investment Managers Limited of the United Kingdom, being part of the leftover money used to pay British colonial officers who served in Nigeria.

It equally got hold of other legacy pension assets valued at N17.85 billion from Boards of Trustees and Underwriters of Treasury Funded Federal Parastatals.

PTAD Executive Secretary, Dr Chioma Ejikeme, made the disclosure while featuring on the Ministerial Media Briefing organized by the Presidential Communications Team at the Presidential Villa, Abuja on Thursday.

According to her, the recovered funds were used to defray the inherited arrears of defunct agencies and to pay off inherited outstanding pension arrears.

“Through the unwavering support of President Muhammadu Buhari who has been adjudged by pensioners as the most pensioner-friendly President in Nigeria, and administration which has made pension an unwritten first-line charge.

“Now, there is regular monthly payment of pension without fail since inception as and when due.

“Payments of long outstanding arrears to pensioners across all the pension departments, most significantly the huge arrears inherited from the defunct/privatized agencies.

“Regular engagements with pensioners and other stakeholders across all the six geo-political zones, to update pensioners on activities of the directorate,” Dr Ejikeme noted.

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