PTAD Gets £26.5m Repatriated Pension Funds From UK

The Pension Transitional Arrangement Directorate on Tuesday announced that it had received the sum of £26,505,862.97 repatriated from the United Kingdom.

It said the pension funds had hitherto been under investment with Crown Agents Investment Management Limited in the United Kingdom.

The Executive Secretary, PTAD, Chioma Ejikeme, said in a statement issued by the agency in Abuja that the repatriation of the fund was made possible by the approval of President Muhammadu Buhari.

It said it was also made possible after series of meetings between the management of PTAD, Office of the Accountant-General of the Federation and the Crown Agents Investment Management Limited.

Ejikeme said the funds would be used to settle part of the accrued arrears owed to its pensioners worth over N120bn.