Edun Demands Digitisation of Pension in Nigeria
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Edun Demands Digitisation of Pension in Nigeria
By Roselyn James
Nigeria’s Finance Minister and Coordinating Minister for the Economy, Wale Edun, has advocated the necessity of digitalizing the country’s pension administration to ensure transparency.
During his visit to the Pension Transitional Arrangement Directorate (PTAD) headquarters in Abuja, Edun assessed the progress of automating the Directorate, as reported by Mohammed Manga, Director of Information and Public Relations for the Ministry of Finance.
Edun reaffirmed the federal government’s commitment to enhancing pension administration and the welfare of pensioners, emphasizing the importance of focusing on essential backend computation projects to improve efficiency and transparency in pension entitlements.
He further reiterated President Bola Tinubu’s dedication to pensioners’ welfare in the midst of economic reforms, promising the Ministry of Finance’s support for recent pension increases in accordance with section 173:3 of the 1999 constitution.
The Minister stated, “With deliberate and timely increments as well as commitment to the timely payment of pension arrears and entitlements emphasizing the government’s commitment to the well-being of pensioners, this marks a historic initiative in Nigerian pension management.”
He said that his visit “underscores the Ministry’s strategy to enhance fiscal management and promote socio economic stability through adoption of digitization and improved governance of public funds.”
This visit demonstrates our commitment to making sure that the mechanisms in place to manage our pension funds are reliable, effective, and in accordance with our larger financial objectives of responsibility and transparency.
The nation’s senior citizens would receive their pensions on schedule and without interruption, according to PTAD Executive Secretary Dr. Chioma Ejikeme, who gave the minister a tour of the directorate’s facilities.
In compliance with the government’s focus on improving public financial management, she claimed that PTAD upholds a high service quality for pensioners, eliminating the previous circumstance in which pensioners frequently traveled to Abuja for verification.
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