News
Reps Fumes as PTAD Paid N379 million to Agents to recover £25millon
From Lateef Taiwo
The House of Representatives Committee on Finance has queried the Pension Transitional Arrangement Directorate PTAD over payment of N379 million to agents to recover about £25 million invested funds by the agency in the United Kingdom.
Chairman of the Committee,Hon James Faleke, issued the query on Wednesday during the ongoing interactive session of Medium Term Expenditure Framework and Fiscal Strategy Paper MTEF/FSP with Ministries Departments and Agencies, MDA’s at the National Assembly Complex, Abuja.
The lawmaker had asked why the agency would engage the services of agents to repatriate the funds invested with Crown Agents of the United Kingdom with such amount against the international best practices on funds recovery.
He thereafter quizzed PTAD leadership on why they have wasted such huge fund on issues that should have been handle freely through diplomatic relations between Nigeria and the United Kingdom., UK..
The chairman further lamented against the fund expended because according to him many pensioners in the country are lavishing in poverty without money to take care of themselves and their families.
Members of the committee who spoke during the occasion also frowned at it noting that such recovery on agents whereas the global practice is to use the staff of the legal department of the agency for such recoveries.
According to him, the House Committee is concerned about the plight of pensioners in the country who are supposed to be beneficiaries of such invested funds but are being owed many months of arrears of salaries and even allowances by the agency.
” PTAD is not a revenue generating agency but there is this fund that is meant for pensioners that we are concerned about.
“How do you use recovery agent to recover such funds. It was alleged that retirees are being owed about N30 million in pension arrears?”.
On her part while reacting,the Executive Secretary of PTAD Chioma Ejikeme disclosed that the funds in question was meant to be transferred to the Cocoa Research Institute of Nigeria and the Federal Civil Service Commission.
According to her, the agency in 2018 got a presidential approval to transfer the funds from the Crown Agents to the agency.
The PTAD boss further added that they used one Million pounds out of the recovered funds to offset the liabilities of some privatized government agencies in the country.
She further informed lawmakers at the interactive session that pensioners were on her neck as all measures to get the fund back from UK yielded no positive result hence her involvement of the consultant for the recovery of the money back to Nigeria.
Earlier, the chairman of the committee, Hon Faleke has warned against reckless use of money by government agencies stressing that the 10th House of Representatives is interested in prudent management for best result for all Nigerians.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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