The Pension Transitional Arrangement Directorate (PTAD) has fully settled outstanding arrears owed to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS).
PTAD said it disbursed ₦9.476 billion as the outstanding 50 per cent balance of arrears arising from the Back-End Computation (BEC), bringing the total amount paid to the affected pensioners to ₦18.958 billion.
According to a statement by Olugbenga Ajayi, Head of Corporate Communications, the latest payment follows an earlier disbursement of ₦9.482 billion made in June 2026, representing the first 50 per cent tranche of the BEC arrears.
“With this payment, the Directorate has fully settled the BEC arrears owed to the affected PHCN Pensioners,” the statement said.
The Directorate described the settlement as a significant milestone in resolving outstanding pension liabilities and reaffirmed its commitment to ensuring that eligible DBS pensioners receive all entitlements legitimately due to them.
The Executive Secretary of PTAD, Tolulope Odunaiya, said the Directorate remained committed to safeguarding the welfare and entitlements of pensioners under the DBS.
Odunaiya also said the administration of President Bola Ahmed Tinubu remained committed to the welfare, dignity and wellbeing of DBS pensioners, adding that the Federal Government, through PTAD, was addressing outstanding pension liabilities to ensure that retirees receive their benefits.
She said the years of sacrifice and service rendered by Nigeria’s senior citizens would continue to be recognised as the government advances initiatives aimed at protecting their welfare and promoting a more dignified and secure retirement.
