The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦9.47 billion to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS), brought to an end outstanding arrears arising from the Back-End Computation (BEC).
The latest payment, totalling ₦9,476,313,375.74, represented the outstanding 50 per cent balance of the BEC arrears owed to the affected pensioners.
According to PTAD’s Head of Corporate Communications, Olugbenga Ajayi, the latest disbursement follows an earlier payment of ₦9,481,886,576.53 made in June 2026 to the same group of pensioners, representing the first 50 per cent tranche of the arrears.
With the latest payment, PTAD said the total amount disbursed to the 3,958 PHCN pensioners in settlement of the BEC arrears has reached ₦18,958,199,952.27.
The Directorate said the full settlement represented a significant milestone in resolving outstanding pension liabilities and reflects the commitment of the Federal Government and PTAD to protecting the welfare and entitlements of pensioners under the DBS.
The Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the Directorate’s commitment to ensuring that every eligible DBS pensioner receives all entitlements legitimately due to them.
Odunaiya also highlighted the commitment of the administration of President Bola Ahmed Tinubu to the welfare, dignity and well-being of DBS pensioners, noting that the Federal Government, through PTAD, continue to address outstanding pension liabilities and ensure that retirees who devoted their productive years to national service receive their legitimate benefits.
According to her, the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens would continue to be recognised and honoured as the administration advances initiatives aimed at protecting their welfare and promoting a more dignified and secure retirement.
