July 02, (THEWILL) – The Pension Transitional Arrangement Directorate (PTAD) has received the sum of £26,505,862.97 repatriated from the United Kingdom.
The funds were formerly invested in Crown Agents Investment Management Limited, a UK-based company.
The PTAD, in a statement by its Executive Secretary (ES), Chioma Ejikeme, said the repatriation of the fund was made possible by the approval of President Muhammadu Buhari and a series of meetings between PTAD Management, Office of the Accountant-General of the Federation and the Crown Agents Investment Management Limited, United Kingdom
The statement added that the funds will be used to settle part of the accrued arrears owed to its pensioners’ worth over N120 billion.
Ejikeme described the development as good for “our Senior Citizens and it represents another demonstration of the importance” that the Buhari-led Federal Government places on the welfare of pensioners.
