Pension Funds
Senate summons insurance firms over failure to remit N17.4 billion pension fund
The Senate Public Accounts Committee, on Monday, summoned NICON Insurance Plc, AIICO Insurance and other insurance companies over alleged failure to remit N17.4 billion fund to Pension Transitional Arrangement Directorate (PTAD). The Executive Secretary of PTAD, Dr Chioma Ejikeme, had told the panel that PTAD took over the assets and liabilities of defunct pension offices without a formal handing over. She said, “On taking over, the Directorate wrote all underwriters to make returns and remit whatever amount is in their custody into a CBN dedicated account. Some of the underwriters responded to the request while some did not. “The bank certificate of balances, accounting statements, 3 years financial statements and policy files requested by the Federal Auditor were not handed over to PTAD ...
Central bank chief to engage governors on pension funds utilization for infrastructure
Bloomberg Mr Godwin Emefiele, the Central Bank Governor, will tomorrow Wednesday, 2nd December 2020, meet with Governors of the 36 states, under the aegis of Nigerian Governors’ Forum, to discuss how to access Pension Funds for Infrastructure Development in the country. Abdulrazaque Bello-Barkindo, Head, Media and Public Affairs of NGF, made this known in a statement made available to newsmen on Monday. According to Bello-Barkindo, the forum will be the 22nd NGF Teleconference meeting which would also seek to evolve a new national security order that will ensure safety of lives and property nationwide. “As part of the effort, beginning at the subnational level, the Forum will be receiving zonal updates on SARS and Internal security at its Wednesday meeting. “Similarly, the Forum will also ...
