PTAD Clears African Alliance Of Legacy Funds Indebtedness

By InsideBusiness On Jul 30, 2021

African Alliance Insurance Plc has secures the ‘No Debt Status Certificate’ following the liquidation of its debt to the Pension Transitional Arrangement Directorate (PTAD).

At the presentation, the Executive Secretary, PTAD, Chioma Ejikeme, while handing over the certificate to a team of senior management staff from African Alliance, commended the leadership of the company for its commitment to settling the debts against all odds.

L-R: Patrick Eka-Iloma, Risk and Compliance Officer; Olabisi Adekola, Executive Director, Finance; Joyce Ojemudia, MD/CEO, all of African Alliance Insurance; Dr Chioma Ejikeme, Executive Secretary, Pension Transitional Arrangement Directorate (PTAD); Amaka Okafor, Head, Northern Region and Bode Raji, Head, Finance, both of African Alliance Insurance at the handing over of the certificate of non-indebtedness to the foremost life insurer today in Abuja.

She said: “My congratulations goes to the MD and her team for this uncommon accomplishment. 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, 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 arise.”

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 visibly excited Managing Director of African Alliance Insurance PLC, Ojemudia, acknowledged the unflinching support of the board as well as the drive of the in-house committee on PTAD.

“With God, all things are possible. And with a Board like ours, ably led by the inimitable banker and financial guru, Anthony Okocha, impossible is nothing. I am grateful for the Board support throughout this process, indeed, their support was the sail under our wings.

Incorporated in 1960, African Alliance Insurance PLC is recognized as the strongest specialist life insurer in these climes.

Following the assumption of Joyce Ojemudia as the MD under a year ago, the firm has continued to experience an upward trajectory in its overall growth, branch network, staff emancipation and consistent payment of claims.

Recently, the firm demonstrated its drive to expanding its market with the opening of a new branch in Abeokuta, the first of two planned for 2021, as well as hosting the body of Brokers in Lagos with the Abuja held yesterday.