PTAD Clears African Alliance of Indebtedness to Legacy Funds, Commends the Firm’s Leadership.
The Pension Transitional Arrangement Directorate (PTAD) has formally presented a Certificate of Non-Indebtedness to African Alliance Insurance PLC after the life insurer settled its outstanding Legacy Funds and Assets indebtedness to the Directorate.
The presentation was done by the Executive Secretary, PTAD, Dr. Chioma Ejikeme at a brief ceremony in Abuja on Friday, 3oth July, 2021. At the presentation, the Executive Secretary, commended the leadership of the company for its commitment to settling the debts against all odds. She said: “My congratulations go to the MD and her team for this uncommon accomplishment. While we thank African Alliance Insurance PLC for her commitment towards the liquidation of this lingering debt within the shortest period of time by the current MD, Mrs Joyce Ojemudia, we must add, without fear of contradiction, that the Directorate will not hesitate to approach African Alliance Insurance PLC for further clarification on Legacy Funds and Assets whenever the need arises.” She further 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.
In her response, the Managing Director/Chief Executive Officer of African Alliance Insurance PLC, Mrs. Joyce Ojemudia, thanked the Almighty God for making the settlement of the debt possible whilst acknowledging the unstinting support of her Board as well as the drive of the in-house committee on PTAD. She said, “With God, all things are possible. And with a Board like ours, ably led by the inimitable banker and financial guru, Dr Anthony Okocha, impossible is nothing. I am grateful for the Board’s support throughout this process; indeed, their support was the sail under our wings. I must not forget to thank my team, especially our amazing and reliable Executive Director, Finance, Mrs. Olabisi Adekola, for working assiduously with the PTAD Committee, as we call them in house, to make this happen”.