The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦9.47 billion to 3,958 pensioners of the defunct Power Holding Company of Nigeria (PHCN), bringing full relief to beneficiaries awaiting outstanding Back-End Computation (BEC) arrears.
The payment of ₦9,476,313,375.74, representing the second and final 50 per cent tranche of the arrears, completes PTAD’s settlement of the liability owed to the affected pensioners under the Defined Benefit Pension Scheme.
In June 2026, the Directorate paid the first 50 per cent tranche amounting to ₦9,481,886,576.53. With the latest disbursement, the total paid to the pensioners stands at ₦18,958,199,952.27.
The settlement marks a major step in resolving outstanding pension obligations and underscores the Federal Government’s commitment to protecting the welfare and entitlements of pensioners under the scheme.
PTAD Executive Secretary, Tolulope Odunaiya, reaffirmed the Directorate’s commitment to ensuring that every eligible pensioner receives all benefits legitimately due to them.
She said the administration of President Bola Ahmed Tinubu remained committed to upholding the dignity and well-being of pensioners by addressing inherited liabilities and ensuring that Nigerians who devoted their productive years to national service receive their rightful benefits.
Odunaiya added that the sacrifices and contributions of the nation’s senior citizens would continue to be recognised as the government advances measures aimed at promoting a more secure and dignified retirement.