Nigerian government releases N54bn to settle workers' pension ...

Nigerian 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.
Presidential spokesman, Malam Garba Shehu, made the disclosure in an interactive radio programme, “Hannu Da Yawa” on the Federal Radio Corporation of Nigeria, FRCN Kaduna.

He said the 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.
Shehu added that Pension Transitional Arrangement Directorate (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 as at March, 2017, indicating a growth of over 29 percent.

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