PTAD has completed payment of ₦18.96bn in outstanding pension arrears to 3,958 eligible PHCN pensioners under the Defined Benefit Scheme.

The Pension Transitional Arrangement Directorate (PTAD) says it has completed the payment of outstanding Back-End Computation (BEC) pension arrears owed to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN).

In a statement signed by its Head of Corporate Communications, Olugbenga Ajayi, PTAD said it disbursed ₦9.476 billion, representing the remaining 50 percent balance of the BEC arrears owed to the pensioners under the Defined Benefit Scheme (DBS).

The latest payment follows an earlier ₦9.482 billion disbursement made in June 2026 to the same group of pensioners as the first 50 percent tranche.

With the latest payment, PTAD said the total amount disbursed to the affected pensioners has reached ₦18.958 billion, fully settling their BEC arrears.

PTAD Reaffirms Commitment to Pensioners

PTAD Executive Secretary, Tolulope Odunaiya, reaffirmed the directorate’s commitment to ensuring that every eligible DBS pensioner receives all entitlements legitimately due to them.

She said the settlement reflects the administration’s commitment to the welfare and dignity of pensioners and recognises the years of service rendered by Nigeria’s senior citizens.

Settlement of Outstanding Liabilities

The directorate described the full settlement as a significant step towards resolving outstanding pension liabilities owed to the affected PHCN pensioners.

The payment also forms part of PTAD’s broader responsibility for administering pensions under the Defined Benefit Scheme and addressing inherited pension obligations owed to eligible retirees.