AIICO gets PTAD’s Certificate of Non-Indebtedness

[By VICTOR NZE]

Pension Transitional Arrangement Directorate (PTAD) has issued a Certificate of Non-Indebtedness to AIICO Insurance Plc, a move that puts the Underwriter in the clear of any claim of non-remittance of pension assets.

Executive Secretary, PTAD, Dr. Chioma Ejikeme, represented by Barr. Godwin Iheabunike, presenting a Certificate of Non-Indebtedness to MD/CEO of AIICO Insurance Plc., Mr Babatunde Fajemirokun (right) at a ceremony, Wednesday

This was affirmed, Wednesday, May 26, at a meeting held to formally hand over redeemed properties ceded by the Company in 2017 in lieu of Legacy Funds and Assets to PTAD.

This process is subsequent upon confirmation of receipt of the full payment from AIICO and completing all reconciliation activities.

At the presentation of the certificate, Executive Secretary, PTAD, Dr. Chioma Ejikeme who was represented by Barr. Godwin Iheabunike, said the certificate was in recognition of payments made by AIICO Insurance.

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“In acknowledgement of the payments made by AIICO Insurance Plc, PTAD has issued a Certificate of Non-Indebtedness to AIICO Insurance Plc and will update relevant institutions of this development in due course.

“We thank AIICO Insurance Plc for her commitment towards the liquidation of this liability within the shortest period of time. My congratulations go to the MD/CEO and his team for this uncommon accomplishment. I call on other insurance underwriters holding on to Legacy Funds and Assets to do the needful as a matter of urgency. This will enable the Directorate to meet its obligation to pensioners,” said Ejikeme.

Remarking, MD/CEO of AIICO Insurance Plc., Mr Babatunde Fajemirokun, expressed his appreciation to the PTAD leadership and team for working tirelessly with the AIICO team through the detailed reconciliation and for final closure.

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