N17.4bn remittance to PTAD: NICON Insurance denies Senate report

By Asishana John

NICON Insurance Limited has refuted recent media reports which alleged that the company has been summoned by the Senate over failure to remit N17.4billion to the Pension Transitional Arrangement Directorate (PTAD).

NICON in a statement said it did not at any time receive any summon from the senate on payment of any fund to PTAD.

Defending itself in the matter, the company explained, “The management of NICON Insurance has not received any summon from the Senate Committee on Public Accounts and is therefore unaware of the existence of such summon as reported by the media.

“It is of great concern to our management that NICON has been subjected to the court of public opinion on a matter in which we have discharged our duty as a responsible corporate citizen.

“To set the records straight, NICON transferred assets to PTAD under the leadership of Sharon Ikeazor in lieu of the legacy pension funds for over 50 agencies and parastatals of the federal government in June 2017.

“PTAD has all the title documents of the properties in its possession and has been collecting rent on them in the last four years. NICON is therefore not liable to PTAD for any pension funds.”

NICON further noted that there were other issues reportedly raised by the Executive Secretary of PTAD, Dr. Chioma Ejikeme which are before a court and are sub judice.