The Director General of the Pension Transition Arrangement Directorate (PTAD), Nellie Mayshak, has been placed on indefinite suspension and is being investigated after it was discovered that she allegedly received N50 million monthly in salary plus other allowances.
According to The Sun, the discovery was made possible via the Bank Verification Number (BVN) which the CBN used to trace the money being paid to her account every month.
According to the Finance minister’s Special Adviser on Media, Festus Akanbi,
“it is normal within civil service procedure to allow the DG to proceed on indefinite suspension pending when the investigation on the matter is concluded.”
PTAD was set up to take care of workers who retired on or before June 30, 2007 under the pay-as-you-go system. Myashak is the pioneer director general of the agency.
Those who are serviced by the agency include the police, customs, immigration, civil servants, para-military and other parastatals.
It was established in August 2013 in compliance with the provisions of section 30 sub-section (2) (a) of the Pension Reform Act (PRA) of 2004 (amended in 2014) which stipulated the establishment of an independent pension department for the public service of the federation.
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