Pension: PTAD Pays N842.8m Arrears to 11,331 Pensioners

  • Pension: PTAD Pays N842.8m Arrears to 11,331 Pensioners

The Pension Transitional Arrangement Directorate (PTAD) said it paid a total sum of N842.8 million, one-month arrears, to at least 11,331 pensioners of the defunct NITEL/Mtel in December 2019.

Dr Chioma Ejikeme, the Executive Secretary, PTAD, made the disclosure on Tuesday.

According to Ejikeme, the payment was part of government commitment to reduce pension liabilities as promised by President Muhammadu Buhari.

The secretary explained that PTAD had earlier mandated pensioners to enroll for NITEL/MTEL verification program that started in February 2018. The verification exercise was to ascertain eligibility before the monthly payment of pension.

“This was what the Directorate did in the cases of Delta Steel Company (DSC), Nigeria Reinsurance, Federal Housing Authority (FHA), NICON Insurance and Nigerian Defense Academy (NDA) civilians.

“The pensioners who have served the country meritoriously in their various capacities deserve to be treated with respect and dignity. This is why PTAD staff and management will continue to work towards ensuring that the pensioners receive their pension entitlements as and when due,” Ejikeme said, as reported by The Nation.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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