…Recovered N16bn cash, assets

The Pension Transitional Arrangement Directorate (PTAD) has announced that it added a total of 7,969 verified civil service pensioners to its payroll within the year ended 2017 alone.
Executive secretary of the Directorate, Barrister Sharon Ikeazor, who made the disclosure yesterday also revealed that PTAD has so far recovered cash and non-cash assets of over N16billion from the Insurance Underwriters and Boards of Trustees (BOT) who were previously responsible for pension payment to this group of pensioners.
Barrister Ikeazor said cash component of the recovery amounts to N6.9 billion which she said is already domiciled with the Central Bank of Nigeria (CBN) in a designated Recovery Account, created solely for the remittance of such funds. She also disclosed that properties recovered have been forwarded to the Federal Ministry of Works & Housing for proper assessment and valuation.
“Outstanding pension assets with the Insurance Underwriters and BOTs as at April 2018 is in excess of N11 billion,” Barrister Sharon said at a press conference held to review the Directorate’s activities for 2017.

The 7,969 people that were added to the payroll are pensioners who were verified in the South West and North Central in Q4 2017.
Before this addition, over 19,500 verified Civil Service pensioners from the North West, South East, North East and South South had been reinstated and paid their arrears. Also ongoing is the computation of benefits for over 5,000 verified Civil Service Pensioners. This will conclude the payrolling of all verified Civil Service Pensioners. Apart from that, “We have also added over 700 verified parastatal pensioners from the Federal Housing Authority and NDA (Civilians) to the payroll to begin to receive monthly pension payments,” she said.
Recall that PTAD started verification of defunct and privatised agencies in Q4 2017 with the verification of pensioners from Nicon, New Nigeria Newspapers, NDA (Civilians), the Federal Housing Authority.

Details of the data showed that PTAD concluded the computation benefits of New Nigerian Newspapers (NNN) pensioners – 467 pensioners and 17 Next of Kins (NoK) but have not payrolled owing to some judicial issues that need to be resolved. We are working to ensure this is expeditiously done so that they can start collecting their monthly pension.
Ikeazor said the agency ended 2017 with the verification of DSC pensioners across the country including PTAD headquarters. About 4,182 pensioners were verified. The computation of their benefits is ongoing.
PTAD started 2018 with the verification of over 22,000 retirees NITEL/Mtel across the country. At the moment, we are also working hard to ensure the speedy computation of their benefits.

Following the successful conclusion of the nation-wide civil service pensioners’ verification exercise in December 2017, Barrister Ikeazor said pensioners who did not show up were given up to the end of March 2018 to come forward to be verified.
“A total of 22,021 who did not show up have now been suspended from the payroll, amounting to a monthly savings of N495, 022,747.57 to government,” she said. This would translate to approximately N6 billion per annum. Pensioners in the Diaspora who have written to update us of their status will however not be affected.
Over 19,000 Pensioners whose accounts did not have the required BVN number were identified in the agency’s data management process and suspended from the payroll. The pensioners will only be reinstated after provision of the BVN and due verification, PTAD Secretary said.
Ikeazor said PTAD will conclude the computation of pension benefit to all CSPD and PaPD verified pensioners to effectively address all complaints of short payment and non-payment and continue the verification of Parastatal Pensioners under the various sectors and compute benefits for payment as part of its plans for 2018.