PTAD seeks parliamentary support on pension

Lawan Hamidu, Abuja


The Pension Transitional Arrangement Directorate, PTAD, has solicited for Parliamentary Support to track and recover pension funds from Insurance Companies across Nigeria.

The Executive Secretary PTAD, Mrs. Sharon Ikeazu made the call during an Investigative Hearing on the activities of Presidential Task Force on Pension Reform.

Mrs. Ikeazu said that about seventeen billion Naira has already being recovered and deposited in a Special Account in the Central Bank of Nigeria, CBN, by the committee with property worth thirteen point five billion Naira also been recovered.

She said “ In our pension administration, we realized that there were a lot of pension Boards of Trustees who were handling the pension of these Parastatals before they were all consolidated under PTAD and also Insurance underwriters who were the ones handling the funds.

We invited them for a meeting and we were able to traced N26bn assets in terms of funds and property that ought to have been transferred to PTAD since its establishment in 2014 and this was not done.”

Earlier, the Speaker Mr. Yakubu Dogara, reiterated the National Assembly’s resolve to recover all monies meant for pensioners in the country stressing the need for effective and efficient pension system to cater for the nation’s retirees.

“The subject of this investigation has had a check out history and has become a very controversial one. I understand that the Senate is also conducting investigation on the subject.

As Bi-Cameral Legislature, our constituents have inundated us with complains that gave rise to the resolution of the house.

Where possible, you should compare notes with the Senate while maintaining the independence of your investigation.” Speaker maintained.

The Chairman of the Adhoc Comittee, Mr. Anayo Nnebe said the investigation was to provide lasting solution to problems facing the pension administration in the country.

The committee then summoned the former Minister of Finance, Dr. Ngozi Okonjo-Iweala and the Chairman of the Presidential Task Team on Pension Reform, Alh AbdulRashid Maina to explain their role in the matter being investigated by the committee.


Aisha JM