Finance Ministry Confirms Suspension of PTAD Boss

Posted by African Examiner Featured, Latest Headlines, News Saturday, March 19th, 2016

BALTIMORE, MD (AFRICAN EXAMINER) – The Federal Ministry of Finance on Friday confirmed the indefinite suspension of the Executive Secretary/Director General of The Pension Transitional Arrangement Directorate (PTAD), Mrs. Nellie Mayshak and three other senior staff of the directorate.

Mayshak was placed on suspension by the Honourable Minister of Finance, Mrs. Kemi Adeosun and a director from the Office of the Accountant-General of the Federation has been appointed as acting Executive Secretary/Director General.

The suspension, which is a normal civil service procedure is to pave way for an unimpeded investigation into the activities of the directorate under the watch of Mrs Mayshak.

While the Ministry assures pensioners that the suspension will not affect pension payment and services, it promises to make public, the findings of the investigative panel on the issues leading to the suspension.

PTAD was established in August 2013 under the Pension Reform Act of 2004 to oversee the management of pensions under the defined benefit scheme for pensioners not transiting to the defined contributory scheme.