The Pensionon Transitional Arrangement Directorate (PTAD) Wednesday stated that between July 2019 and August 2020, it paid over N96 billion across all operational departments.
Executive Secretary of PTAD, Dr Chioma Ejikeme, made this knoen at an interactive session with the media in Abuja.
Also, she said the sum of over N77 billion was paid as monthly pensions payments to 244,643 pensioners as at July 2020, adding that 87,842 pensioners were paid arrears and gratuities of over N19 billion during the period.
Dr Ejikeme further said over N670 million was paid to 418 next of kins of deceased pensioners, even as the above payments include the balance of 33 per cent arrears for the parastatal pensioners which had been outstanding since 2010 and was fully paid to the pensioners and NOKs in November/December 2019.
The PTAD boss ceased the occasion to enjoin the 21,227 pensioners on the payroll not captured in the last verification exercise in November 2019 whose list has been sent to pension unions, associations/agencies to make themselves available for verification.
She however charged that deceased pensioners and unresponsive pensioners on the list will be removed from the payroll from October 2020.
On the N44 billion yet to be recovered legacy funds and assets in the custody of 12 underwriting firms, she said the Directorate has filled action against four of them-Goldlink Insurance Plc, Unic Insurance Plc, Standard Alliance Life Insurance and Niger Insurance Plc.
“Two out of the four cases have been decided in favour of the Directorate as follows: The Federal High Court, Lagos gave judgment in the case against Goldlink Insurance in favour of PTAD to the tune of N1,238,234,383.96 being the outstanding balance of the federal government legacy funds and assets in the custody of the defendant with 10 per cent post judgment interest until the judgment sum is liquidated.
“On the 2nd day of April, 2019, the Federal High Court, Lagos entered judgment in favour of the Directorate in the sum of N829, 788, 380.19 being outstanding balance of the federal government legacy funds and assets in the custody of Unic Insurance Company.”
