PTAD Receives £26.5M Repatriated Pension Funds from Crown Agents Investment Management
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.
These pension funds had hitherto been under investment with Crown Agents Investment Management Limited, United Kingdom.
According to the Executive Secretary, Dr. Chioma Ejikeme, in a statement signed by the Head, Corporate Communications, Olugbenga Ajayi and made available to journalists today, the repatriation of this fund was made possible by the approval of President Mohammadu Buhari and 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 our Senior Citizens and it represents another demonstration of the importance that the Buhari led Federal Government places on the welfare of pensioners.”
