Business
PTAD Boss Supervises Pensioners’ Verification In Delta
The on-going pensioners’ verification exercise has been extended to Delta State beginning with retirees of Delta Steel Company (DSC) and Federal Housing Authority (FHA).
The Executive Secretary, Pension Transitional Arrangement Directorate (PTAD), Mrs. Sharon Ikpeazor led the team to verify pensioners under the Defined Benefit Scheme (DBS).
She said over 5,000 retirees of the defunct DSC and FHA who retired since 12 years ago have been verified by the directorate.
Ikpeazor said that the exercised commenced on Nov. 20, and was taking place at Orhowhorun, Udu Local Government Area of Delta, adding that the verification would end on November 28.
The PTAD boss who is fondly called “Mama Pension” said that it was a gross injustice for workers to serve their fatherland and be denied their retirement benefits.
She assured that as soon as the data collected from the field exercise were verified for quality assurance by the Federal Auditors in PTAD in the next four months, the directorate would commence payment.
“I feel very fulfilled that our government under the leadership of President Muhammadu Buhari has been able to come to the aid of retirees of DSC and FHA after 12 years of neglect.
“You can see the joy amongst the people because to me one of the greatest injustices is that a worker will serve the country, retire and is not paid.
“Payment usually commences four months after verification because the data and the documents collected in the field would be sent to our headquarters in Abuja for quality assurance.
“The federal auditors who are situated inside our office go through the computations before payment can be made.
“And here we are expecting over 5,000 workers to be verified.
“So you can see the magnitude of work to be done. In the next four to five months we are assuring the pensioners that they will get paid,” she said.
The executive secretary also said a mobile verification team of the agency had been detailed to go to hospitals and homes to verify those who were sick or deformed to ensure transparency.
Earlier, Mr Samuel Ikon, member, House of Reps Committee on Pension had expressed joy at the processes of the verification.
“I am encouraged with the pace and manner it is being conducted, it is well organised,” he said.
National Chairman, Nigerian Union of Pensioners (NUP), DSC Sectoral Branch, Mr Akpoteghor Iseakpobeje, commended the Federal Government for the gesture.
“We have lost over 700 of our members and about 300 homes have been broken since the privatisation of DSC.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.