Business
PTAD Verifies NITEL, MTEL Pensioners, Jan
The Pension Transitional Arrangement Directorate (PTAD), has announced dates for the verification of pensioners of Nigerian Telecommunications Limited (NITEL) and its mobile subsidiary, MTEL under the Defined Benefit Scheme (DBS).
Management of PTAD in a statement in Abuja, Thursday, announced that the verification would begin from January 15 to 26, 2018.
According to PTAD, the exercise will take place across the six geo-political zones in selected venues that will be announced in January.
PTAD said the verification exercise was in pursuant to the payment of pension benefits to eligible retirees of the agencies after receiving approval from the Ministry of Finance that appropriate benefits be paid to qualified retirees.
“Pursuant to PTAD being assigned with the responsibility, the directorate has been working with the Bureau of Public Enterprises (BPE) to get the nominal roll and other required information on qualified pensioners of the defunct NITEL.”
PTAD said qualified retirees are required to come with originals and photocopies of their required documents including their computation sheets issued by their former employer.
It said Next-of-Kins (NOK) are also mandated to obtain a Letter of Administration from the High Courts of Justice for the deceased pension.
It further said that affidavit for loss of mandatory documents including letter of retirement will not be accepted for the verification.
According to PTAD, issue of proxy will not be allowed in the process as security agencies will be stationed at the venues to check fraudsters, who will be immediately prosecuted when apprehended.
It said the directorate was ready to attend to the sick and infirmed at their locations and are therefore advised to send an application for mobile verification.
It advised that the application must include pensioners’ contact details, photocopies of all documents as listed and certified Doctor’s report for such services.
For further enquires, it advised concerned persons to contact PTAD on the toll-free line 0800-CALL-PTAD (0800-2255-7823) or email info@ptad.gov.ng.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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