FG receives £26.5m repatriated pension funds

The federal government on Wednesday announced through the Pension Transitional Arrangement Directorate (PTAD) that it received the sum of £26.5 million as repatriated pension funds from Crown Agents Investment Management (CAIM).

This was disclosed on Tuesday in Abuja by PTAD Executive Secretary, Dr Chioma Ejikeme, in a statement released by Mr Gbenga Ajayi, PTAD’s Head of Corporate Communications.

The PTAD boss added that the repatriated pension funds had been under-investment with CAIM of the United Kingdom, citing that the funds were approved by the Presidency after series of meetings between PTAD Management, Office of the Accountant-General of the Federation and CAIM.

She also added that part of the funds would be used to settle accrued arrears to pensioners valued at over N120 billion.

“This development is indeed a very happy and welcomed one for our senior citizens,” she stated.