DG PTAD suspended over alleged fraud of N60m



The Director General of the Pension Transitional Arrangement Directorate (PTAD), Nellie Mayshak has been suspended indefinitely for alleged fraud of N60 million naira which is reported to be a monthly salary.

According to the report, the details of the alleged fraud are still sketchy, but the recently introduced biometric registration by banks exposed a lot of shady dealings in the directorate.

With investigation currently on-going, and Mayshak has been placed on indefinite suspension as it was alleged that she was on a monthly salary of N60 million – thought to be the highest for any government official in the federation.

PTAD was established in August 2013 under the Pension Reform Act (PRA) of 2004 to oversee the management of pensions under the defined benefit scheme for pensioners not transiting to the defined contributory scheme.


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