The Tinubu Media Volunteers (TMV) has applauded the Federal Government for the disbursement of N18.96 billion to settle outstanding back-end computation arrears owed to 3,958 former workers of the Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme.
The group described the payment as a major milestone in addressing longstanding pension liabilities and recognising the contributions of retired workers to the development of the country.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, TMV said the latest disbursement of N9.476 billion represents the outstanding 50 per cent balance of the arrears owed to the affected pensioners.
According to the group, the Pension Transitional Arrangement Directorate (PTAD) had earlier in June disbursed N9.482 billion, representing the first 50 per cent tranche of the arrears.
With the latest payment, TMV said the total amount disbursed now stands at N18.958 billion, effectively settling the outstanding arrears owed to the retired PHCN staff.
The group said the development demonstrated the Federal Government’s commitment to the welfare and wellbeing of pensioners, particularly Nigerians who devoted their productive years to national service.
“We consider this a major milestone in the settlement of outstanding liabilities, and it shows the Tinubu administration’s commitment to catering for the welfare and wellbeing of the pensioners,” the group said.
TMV also noted that the development was part of broader efforts by the Federal Government to address longstanding pension obligations, citing the settlement of outstanding pensions owed to former Nigerian Airways workers.
The group recalled that the PHCN pension liabilities had remained unresolved for more than two decades, adding that the recent payments represented efforts to address such outstanding obligations.
It said the disbursement would provide relief to the affected pensioners while also underscoring the importance of recognising and rewarding Nigerians who served the country during their active years.
TMV further commended the Federal Government for ensuring that the benefits were made available to the affected pensioners and urged continued attention to the welfare of senior citizens who contributed to national development.
