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PTAD Finally Pays N17bn Liabilities To Defunct FG Pensioners

Succour finally came the way of pensioners of five defunct agencies of the Federal Government as the Pension Transitional Arrangement Directorate on Tuesday paid over N17bn outstanding liabilities

The Executive Secretary, Chioma Ejikeme, disclosed this at a ceremony for the payment of accrued pension arrears to pensioners of defunct agencies held in Abuja.

She explained that the Directorate has completed the payment of all outstanding liabilities due to ex-workers of the defunct Nigeria Reinsurance Corporation and New Nigeria Newspapers Limited and settled a significant portion of arrears due to pensioners of NICON Insurance Corporation, Delta Steel Company Limited and Nigerian Telecommunications Limited.

The ES said, “We spent a total of over N17bn to settle these areas for these pensioners but the significant thing is that we have completely settled the liabilities of two of these defunct agencies, Nigeria Reinsurance Corporation (total 126 inherited months completely liquidated) and New Nigeria Newspapers Limited (Total 219 inherited Months Completely liquidated).

“So we no longer owe them arrears. We have also settled a significant portion of the outstanding liabilities due to the ex-workers of another three Defunct Agencies — NICON Insurance Corporation, Delta Steel Company Limited & NITEL/MTEL.”

She stated that the pension liabilities paid are the arrears which accumulated between the time when the lump sum pension was earlier paid and October, 2018 when the disengaged ex-workers were enrolled to the monthly pension by PTAD.

She added that the outstanding liabilities, therefore, represent the unfunded pension arrears that were due to these pensioners at the time the Directorate inherited them.

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