PTAD Recovers N16b Legacy Pension Funds, Assets

Yemisi Izuora.

The  Pension Transitional Arrangement Directorate has recovered N16 billion of legacy pension funds and assets in the last one year, the Executive Secretary, Sharon Ikeazor, has said.
Ikeazor made the disclosure at the 2017 stakeholders’ forum of pensioners in Abuja.
The legacy fund includes the liabilities and assets of pension funds of erstwhile pension offices and treasury funded pensions of parastatal agencies, universities and colleges of education.
Ikeazor said the legacy funds and assets recovered were mainly from NICON insurance and that efforts were on to recover additional assets and funds held by insurance underwriters.
Ikeazor said the theme of the forum: “Putting Pensioners First, is Putting the Country First,” was designed to brief pensioners on the various activities carried out by PITAD since her assumption of office.
She said her assignment at PTAD had given her the opportunity to understand and appreciate the magnitude of problems  previously encountered by pensioners.
The secretary said in spite of initial daunting challenges, PTAD had recorded some measure of success in administering the old pension scheme.
Ikeazor listed some of the achievements in the last one year as the automation of the pension payment processes and the use of Government to Person Electronic Payments.

President Muhammadu Buhari also on Friday approved the appointment of a former Deputy Governor of the Central Bank of Nigeria (CBN), Mr. Tunde Lemo, as the Chairman of the Board of Federal Roads Maintenance Agency (FERMA).

According to a statement by the Assistant Director (Press) in the Office of the Secretary to the Government of the Federation, Mohammed Nakorji, the President also approved the appointments of the board’s members.

The board members, according to the statement, are – Nurudeen Rafindadi; Buba Abdullahi; Babagana Aji; Shehu Abdullahi and Loretta Aniagolu.
Others are Mujaidu Dako; Vincent Kolawole; Chukwunwike Uzo; Olubunmi Siyanbola; Abdulrazak Ma’aji; Saidu Abdulkadir and Peter Osawe.

The appointments are subject to the confirmation of the Senate.

According to the statement, the President also approved the re-appointment of Mr. Peter Ewesor, as the Managing Director of Nigerian Electricity Management Service Agency for a final term of four years in accordance with the provisions of Section 7(3) of the Nigerian Electricity Management Services Agency Act, 2015.

Ewezor’s re-appointment took effect from October 3.

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