Home / All News / PTAD RECIEVES OVER 26 MILLION POUNDS STERLING REPATRIATED PENSION FUNDS FROM CIAM

PTAD RECIEVES OVER 26 MILLION POUNDS STERLING REPATRIATED PENSION FUNDS FROM CIAM

The Pension Transitional Arrangement Directorate (PTAD) has received the sum of £26,505,862.97  (Twenty Six Million, Five Hundred and Five thousand, Eight hundred and Sixty-two Pounds, Ninety-Seven Pence) repatriated from the United Kingdom.

In a statement made available to journalists in Abuja by the Press secretary, Mr. Gbenga Ajayi stated that the pension funds had hitherto been under-investment with Crown Agents Investment Management Limited, United Kingdom.

According to the statement, the  Executive Secretary of PTAD, Dr. Chioma Ejikeme said the repatriation of the fund was made possible by the approval of President Mohammadu Buhari and a series of meetings between PTAD Management, Office of the Accountant-General of the Federation, and the Crown Agents Investment Management Limited, United Kingdom

The ES said the funds will be used to settle part of the accrued arrears owed to its pensioners worth over N120B (One hundred and Twenty Billion Naira only).

She said this development is indeed a very happy and welcome development for the Senior Citizens and it represents another demonstration of the importance that the President Buhari-led Federal Government places on the welfare of pensioners.

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