Pension Transitional Arrangement Directorate, PTAD, yesterday said it had saved the federal government from losing over N100 million monthly to pension scam.
Director General of PTAD, Mr. Nellie Mayshak made this known during the verification exercise of pensioners in Abakaliki.
Mayshak noted that the objective of the verification exercise was to establish a credible, authentic and digitalised database for pensioners under the Defined Benefit Scheme, DBS, as well as to eliminate duplicate payments and fish out ghost workers.
He said the verification exercise was also aimed at regularising anomalies such as over payments and under payments of salaries to pensioners witnessed across the country.
According to him, PTAD is a directorate under the Federal Ministry of Finance established in August 2013, in compliance with the provisions of section 30 sub-section2 (a) of the Pension Reform Act of 2004 and as restated in section 42(1) of the amended act of 2014 to manage the old pension scheme.
He said, “With the successful completion of the nationwide biometric verification of police, customs, immigration and prison pensioners, PTAD was able to identify and remove over 3,000 bogus names from the payroll. This has in effect saved the federal government about N100 million monthly in fraudulent pension payments.
“We are able to restore monthly pension payments to genuine pensioners previously removed from the payroll, including 750 pensioners made up of 529 regular police retirees and 221 next of kin who had never been paid any pension or gratuity, some for over 10 years after retirement.”
Mayshak stated the preparedness of the agency to bring sanity in the payment of pension, noting that pensioners who were not receiving their pensions prior to the establishment of PTAD were now being paid.
He explained that the verification exercise started November 2, 2015, across the states.


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