The Pension Transitional Arrangement Directorate (PTAD) has paid a total of N18.96 billion in Back-End Computation (BEC) pension arrears to 3,958 retirees of the former Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme.
The latest disbursement of N9.476 billion represents the outstanding 50 per cent balance owed to the affected pensioners, following an earlier payment of N9.482 billion made in June 2026.
PTAD disclosed this in a statement shared on its official X handle on Thursday, noting that the two payments brought the total amount released to N18,958,199,952.27.
According to the directorate, the payment marks the completion of the settlement of BEC arrears owed to eligible PHCN pensioners under the scheme.
PTAD described the development as a significant milestone in efforts to address outstanding pension liabilities and reaffirmed the Federal Government’s commitment to protecting the rights and welfare of pensioners under the Defined Benefit Scheme.
The agency said the latest payment followed the disbursement of N9,481,886,576.53 in June 2026, adding that the combined payments had fully settled the verified BEC arrears for the affected retirees.
PTAD Executive Secretary, Tolulope Odunaiya, reaffirmed the agency’s commitment to ensuring that every eligible pensioner receives all benefits legitimately due to them.
Odunaiya also said the government would continue to recognise the contributions of retirees who spent their productive years serving the country.
She noted that the welfare of pensioners remains an important area of focus for the administration of President Bola Ahmed Tinubu, stressing that the sacrifices and years of service rendered by senior citizens deserved to be acknowledged and honoured.
PTAD further stated that it would continue its efforts to resolve other outstanding pension obligations and ensure that retirees receive their legitimate entitlements.
The directorate said the latest settlement demonstrates its ongoing efforts to improve the administration of pension benefits and address verified liabilities owed to pensioners under the Defined Benefit Pension Scheme.
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