Pension Transitional Arrangement repatriates £26.5million from UK

 

Pension Transitional Arrangement repatriates 26.5million from UK
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 by its management, these pension funds had hitherto been under-investment with Crown Agents Investment Management (CAIM) Limited in the United Kingdom. hundred and sixty-two Pounds, ninety-seven pence) repatriated from the United Kingdom.

According to the statement, PTAD Executive Secretary Dr. Chioma Ejikeme explained 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 ES further disclosed that the funds will be used to settle part of the accrued arrears owed to its pensioners worth over an N120billion (One hundred and Twenty Billion Naira).

“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,” she said.