The Pension Transitional Arrangement Directorate (PTAD) has disbursed N9.47 billion to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN), completing the payment of outstanding Back-End Computation (BEC) arrears owed to them. The Directorate in a statement by the Head of Corporate Communications, Olugbenga Ajayi, on Thursday,……
The Pension Transitional Arrangement Directorate (PTAD) has disbursed N9.47 billion to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN), completing the payment of outstanding Back-End Computation (BEC) arrears owed to them.
The Directorate in a statement by the Head of Corporate Communications, Olugbenga Ajayi, on Thursday, September 17, said that the N9,476,313,375.74 payment represents the outstanding 50 per cent balance of the BEC arrears under the Defined Benefit Pension Scheme (DBS).
PTAD had in June 2026 paid N9,481,886,576.53 to the same group of pensioners as the first 50 per cent tranche of the arrears.
With the latest payment, the total amount disbursed to the affected pensioners now stands at N18,958,199,952.27.
The Directorate said the full settlement marked a milestone in resolving outstanding pension liabilities and reaffirmed its commitment to ensuring that eligible pensioners receive their entitlements.
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The Executive Secretary of PTAD, Tolulope Odunaiya, said the agency remained committed to paying all legitimate entitlements due to pensioners under the DBS.
Odunaiya also said the Federal Government was committed to protecting the welfare and dignity of pensioners.
The Executive Secretary said the government, through PTAD, “continues to give practical expression to this commitment by addressing outstanding pension liabilities and ensuring that those who devoted their productive years to the service of the Nation receive the benefits due to them.”
She added that the contributions of Nigeria’s senior citizens would continue to be recognised as the government pursues measures aimed at improving their welfare in retirement.
“According to the Executive Secretary, the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured, as the administration advances initiatives aimed at protecting their welfare and promoting a more dignified and secure retirement,” the statement said.
PTAD said the latest payment further demonstrated the Federal Government’s commitment to safeguarding the welfare and pension rights of retirees under the Defined Benefit Pension Scheme.
