PTAD receives £26.5m repatriated pension fund

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By Favour Nnabugwu

 

 

 

The Pension Transitional Arrangement Directorate (PTAD) has received a repatriated pension fund of £26.5million from Crown Agents Investment Management Limited, United Kingdom.

The total pension fund received by PTAD is £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

The Executive Secretary, Dr. Chioma Ejikeme stated that 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 Executive Secretsry further noted that  the funds will be used to settle part of the accrued arrears owed to its pensioners worth over N120 billion (One hundred and Twenty Billion Naira only).

Ejikeme also added that the 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.

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