The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of ₦18.96 billion in outstanding Back-End Computation (BEC) arrears to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN).
Gatekeepers News reports that in a statement issued on Thursday, PTAD said it had disbursed ₦9.476 billion to the affected pensioners, representing the outstanding 50 per cent balance of their BEC arrears.
“The Pension Transitional Arrangement Directorate (PTAD) has successfully disbursed the sum of ₦9,476,313,375.74 … to 3,958 eligible PHCN Pensioners under the Defined Benefit Pension Scheme (DBS), representing the outstanding 50% balance of arrears arising from the Back-End Computation (BEC),” the agency said.
The latest payment follows an earlier disbursement of ₦9.482 billion made to the same group of pensioners in June 2026, representing the first 50 per cent tranche.
PTAD said the two payments brought the total amount disbursed to ₦18,958,199,952.27.
“With this payment, the Directorate has fully settled the BEC arrears owed to the affected PHCN Pensioners, bringing the total amount disbursed to ₦18,958,199,952.27,” the agency stated.
The Directorate described the settlement as a significant step towards resolving outstanding pension liabilities.
“The full settlement marks a significant milestone in the resolution of outstanding pension liabilities and further demonstrates the commitment of the Federal Government and PTAD to safeguarding the welfare and entitlements of Pensioners under the DBS,” PTAD said.
PTAD Executive Secretary, Tolulope Odunaiya, reaffirmed the agency’s commitment to ensuring that eligible pensioners receive all benefits due to them.
“The Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the Directorate’s unwavering commitment to ensuring that every eligible DBS Pensioner receives all entitlements legitimately due to them.”
The agency also said Odunaiya highlighted the Federal Government’s commitment to the welfare and dignity of pensioners under President Bola Ahmed Tinubu’s administration.
“She further highlighted the commitment of the administration of His Excellency, President Bola Ahmed Tinubu, GCFR, to the welfare, dignity and well-being of DBS Pensioners,” the statement said.
PTAD added that the government would continue efforts to address outstanding pension liabilities and ensure retirees receive their legitimate benefits.
According to the agency, Odunaiya said the years of service and sacrifice by Nigeria’s senior citizens would continue to be recognised through initiatives aimed at protecting their welfare and supporting a dignified retirement.
The latest payment effectively brings the outstanding BEC arrears owed to the affected PHCN pensioners to an end, PTAD said.
