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‘Over N22b paid to 713,306 pensioners on PTAD monthly payroll ‘



The Pension Transitional Arrangement Directorate (PTAD) has revealed that over N22 billion was paid to about 713, 306 pensioners nation wide in the first quarter of 2018.A breakdown of the payment shows that 334,514 civil service pensioners including 219 retired permanent secretaries and the Head of Service (HOS) received N6. 6 billion; 294, 692 parastatals pensioners got N2. 2 billion; 35, 957 Customs, Immigration and Prisons Pensioners (CIPPD) were paid N1. 8 billion while 48, 143 Police pensioners got N1. 6 billion.

The directorate however noted that there are expectations to increase the figures especially with the ongoing verification of more pensioners.PTAD Executive Secretary, Sharon Ikeazor, yesterday at a news conference said that PTAD has so far recovered cash and non-cash assets worth over N16 billion from Build, Operate and Transfer (BOTS) assets as well as from insurance underwriters.

She explained that the cash component of N6. 9 billion is domiciled with the Central Bank of Nigeria (CBN) in a designated Recovery Account created solely for the remittance of such funds.‘’Properties recovered have been forwarded to the Federal Ministry of Works and Housing for proper assessment and valuation.’ ’

Speaking on the gains and impact of verification exercises so far carried out by PTAD , the Executive Secretary confirmed that the directorate has successfully added 7, 969 verified Civil Service Pensioners to the payroll stressing,

According to her, outstanding Pension Assets with the Insurance Underwriters and BOTs as at April 2018 is in excess of N11 billion.On comprehensive data management, she noted that over 19,000 pensioners whose accounts did not have the required Bank Verification Number (BVN) were identified in the data management process and suspended from the payroll as the pensioners will only be reinstated after provision of the BVN and due verification.

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