The Federal Government is committed to full liquidation of outstanding arrears due to pensioners of the remaining three defunct agencies.
Minister of Finance, Budget and National Planning Zainab Ahmed stated this at the official finalisation payment of inherited unfunded liabilities to pensioners of defunct agencies, organised by the Pension Transitional Arrangement Directorate, PTAD in Abuja.
She also expressed pleasure for the completion of the payment of the outstanding liabilities due to pensioners of two defunct agencies namely- Nigeria Reinsurance Corporation and New Nigeria Newspapers Limited.
The Minister added that another three defunct agencies will receive a significant portion of the outstanding arrears which include; NICO Insurance Corporation, Delta Steel Company Limited and NITEL/MTEL.
Zainab said the funds that was used to offset the arrears were recovered pension assets held by insurance underwriters and other local and international investment agencies.
On her part, Executive Secretary of PTAD Chioma Ejikeme, said 126 inherited months has completely liquidated for Nigeria Reinsurance Corporation and 219 inherited months completely liquidated for New Nigeria Newspapers Limited. She also reassured the three defunct agencies that the directorate was fully committed to the full liquidation of the outstanding arrears due to them after these payments.
