PTAD clears African Alliance of debt, commends leadership

The Pension Transitional Arrangement Directorate (PTAD), has formally presented a Certificate of Non-Indebtedness to the African Alliance Insurance PLC.
This was after the life insurer settled its outstanding Legacy Funds and Assets indebtedness to the Directorate.
PTAD made this known on its official website.
The presentation was done by the Executive Secretary of PTAD, Dr Chioma Ejikeme at a brief ceremony which was held in Abuja on Friday.
Ejikeme commended the leadership of the company for its commitment to settling the debts against all odds.
“My congratulations go to the Managing Director, Mrs Joyce Ojemudia and her team for this uncommon accomplishment.
“We thank African Alliance Insurance PLC for its commitment toward the liquidation of this lingering debt within the shortest period of time by the current management.
“However, the Directorate will not hesitate to approach African Alliance Insurance PLC for further clarification on Legacy Funds and Assets whenever the need arises,” Ejikeme said.
She called on all other insurance underwriters holding on to Legacy Funds and Assets to release the funds as a matter of urgency in order for the directorate to meet obligations to Pensioners.
The Managing Director/Chief Executive Officer of African Alliance Insurance PLC, Ojemudia, thanked God for making the settlement of the debt possible, while acknowledging the support of her board as well as the drive of the in-house committee on PTAD.