The Pension Transitional Arrangement Directorate (PTAD) has received 26.5 million Pounds Sterling repatriated pension funds from Crown Agents Investment Management (CAIM).
Dr Chioma Ejikeme, the Executive Secretary of PTAD, said this in a statement by Mr Gbenga Ajayi, PTAD’s Head of Corporate Communications, on Tuesday in Abuja.
Ejikeme said that the pension funds had hitherto been under investment with CAIM of the United Kingdom.
She said that the repatriation of the fund was made possible by the approval of President Muhammadu Buhari after series of meetings between PTAD Management, Office of the Accountant-General of the Federation and the CAIM.
Ejikeme said that the funds would be used to settle parts of the accrued arrears owed to its pensioners worth over N120 billion.
“This development is indeed a very happy and welcomed one for our senior citizens.”
The executive secretary said that this was another demonstration of the importance the Federal Government placed on the welfare of pensioners.