FG releases N54bn for settlement of pension liabilities

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The Federal Government has directed the release of N54 billion towards the settlement of inherited and current liabilities to Federal Government retirees under the Contributory Pension Scheme.

The presidential spokesman, Malam Garba Shehu, disclosed this when he featured on an interactive radio programme, “Hannu Da Yawa” on the Federal Radio Corporation of Nigeria, FRCN Kaduna.

The programme was part of activities to commemorate the second anniversary of the Buhari administration.

He also revealed that the Buhari administration had further directed that regular monthly remittances be made into the Retirement Benefits Bond Redemption Fund (RBBRF) with the Central Bank of Nigeria to ensure the continuity of timely payment of benefits to retirees.

According to him, under the Buhari administration, the PTAD has saved N5.7 billion through the efficient administration of the pensions of parastatals and universities.

“In addition, pension assets increased from N4.96 trillion in June 2015 to N6.42 trillion…

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About williwash

A writer, a human rights activist, an adventurer and a poet.
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