With the latest payment, PTAD said it had fully settled the BEC arrears owed to the affected PHCN pensioners, bringing the total amount disbursed to ₦18,958,199,952.27
By Moses Okorie
The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦9.476 billion to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS).
The payment represents the outstanding 50 per cent balance of arrears arising from the Back-End Computation (BEC) of pension benefits.
In a statement issued on Thursday by PTAD’s Head of Corporate Communications, Olugbenga Ajayi, the Directorate said the latest payment amounted to ₦9,476,313,375.74.
It followed the disbursement of ₦9,481,886,576.53 made in June 2026 to the same category of pensioners as the first 50 per cent tranche of the BEC arrears.
With the latest payment, PTAD said it had fully settled the BEC arrears owed to the affected PHCN pensioners, bringing the total amount disbursed to ₦18,958,199,952.27.
The Directorate described the full settlement as a significant milestone in resolving outstanding pension liabilities and reaffirmed 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, said the Directorate remained committed to ensuring that every eligible DBS pensioner received all entitlements legitimately due to them.
Odunaiya also highlighted the commitment of the administration of President Bola Ahmed Tinubu to the welfare, dignity and wellbeing of pensioners under the Defined Benefit Scheme.
She said the Federal Government, through PTAD, was giving practical expression to that commitment by addressing outstanding pension liabilities and ensuring that Nigerians who devoted their productive years to national service received their due benefits.
According to her, the years of sacrifice and meritorious service rendered by the country’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.
The latest payment brings to a close the outstanding BEC arrears for the 3,958 affected PHCN pensioners, according to PTAD.