AIICO Gets Clearance of Non-Indebtedness From PTAD

The 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.Dr. Chioma Ejikeme, Executive Secretary, PTAD in a statement said that this is affirmed today Wednesday, May 26, 2021 from meeting held to formally hand over redeemed properties ceded by the Company in 2017 in lieu of Legacy Funds and Assets to PTAD.

The  Executive Secretary who is ably represented by Barr. Godwin Iheabunike “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.”

She fiinoted that this process is subsequent upon confirmation of receipt of the full payment from AIICO and completing all reconciliation activities.

She stated further “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.”

In his rearlier remarks, the 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.

AIICO Insurance is a leading composite insurer in Nigeria with a record of serving our customers that dates back over 50 years. Founded in 1963, AIICO provides life and health insurance, general insurance and investment management services as a means to create and protect wealth for individuals, families and corporate customers.

June 11, 2021