PTAD Pays N18.96 Billion PHCN Pension Arrears To 3,958 Retirees

 The Pension Transitional Arrangement Directorate (PTAD) has disbursed N18.96 billion to settle outstanding Back-End Computation (BEC) arrears owed to 3,958 eligible pensioners of the former Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS).

The final payment of N9.476 billion represents the outstanding 50% balance, following an initial N9.482 billion disbursement in June 2026.

In a statement published on its X handle on Thursday, PTAD said the two payments brought the total disbursed to N18,958,199,952.27, completing the settlement of the BEC arrears for the affected pensioners.

What PTAD is saying

The Directorate described the settlement as “a significant milestone in the resolution of outstanding pension liabilities,” adding that it reflects the Federal Government’s commitment to protecting the welfare and entitlements of DBS pensioners.

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“The latest disbursement follows the payment of N9,481,886,576.53 (Nine Billion, Four Hundred and Eighty-One Million, Eight Hundred and Eighty-Six Thousand, Five Hundred and Seventy-Six Naira, Fifty-Three Kobo) made in June 2026.

“With this payment, the Directorate has fully settled the BEC arrears owed to the affected PHCN Pensioners, bringing the total amount disbursed to N18,958,199,952.27 (Eighteen Billion, Nine Hundred and Fifty-Eight Million, One Hundred and Ninety-Nine Thousand, Nine Hundred and Fifty-Two Naira, Twenty-Seven Kobo).”

PTAD Executive Secretary, Tolulope Odunaiya, reaffirmed the agency’s commitment to ensuring that all eligible pensioners receive the benefits legitimately due to them.

She also highlighted President Bola Ahmed Tinubu’s administration’s focus on pensioners’ welfare, saying “the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured.”

PTAD said it would continue working to resolve outstanding pension obligations and ensure that retirees who devoted their productive years to national service receive their entitlements.