PTAD Repatriates £26.5m Colonial Pensions Fund from UK

Deji Elumoye in Abuja 

The Federal Government owned Pension Transitional Arrangement Directorate (PTAD) has recovered £26.5 million from Crown Agents Investment Managers Limited of the United Kingdom being the left over of the funds expended to pay British colonial officers who worked in Nigeria.

Also recovered as legacy pension assets by the directorate is the sum of N17.85 billion from Boards of Trustees and Underwriters of Treasury Funded Federal Parastatals.

Making this disclosure on Thursday was the 

Executive Secretary of PTAD, Dr. Chioma Ejikeme, while speaking with newsmen at the State House, Abuja. 

According to her, the monies were used to defray the inherited arrears of defunct agencies and also pay-off inherited outstanding pension arrears.

She also revealed that the directorate had paid over N610 billion from January 2015 to December 2021 in monthly pensions, while noting that that it had achieved 90% of its mandate.

Details later…