PTAD pays N9.47bn BEC arrears to 3,958 PHCN pensioners
By Alabidun Shuaib AbdulRahman
The Pension Transitional Arrangement Directorate, PTAD has disbursed N9.476bn to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria, PHCN under the Defined Benefit Pension Scheme, DBPS.
INCNews247 reports that the payment represents the outstanding 50 per cent balance of arrears arising from the Back-End Computation.
The Directorate disclosed this in a statement issued by its Head of Corporate Communications, Olugbenga Ajayi.
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According to the statement, the latest payment followed an earlier disbursement of N9.482bn made in June 2026 to the same group of pensioners.
The June payment represented the first 50 per cent tranche of the BEC arrears.
With the latest disbursement, PTAD said it had fully settled the BEC arrears owed to the affected PHCN pensioners.
The total amount paid to the 3,958 pensioners now stands at N18.958bn.
The statement described the full settlement as a significant step towards resolving outstanding pension liabilities and protecting the entitlements of pensioners under the DBS.
The Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the Directorate’s commitment to ensuring that every eligible pensioner under the scheme receives all entitlements legitimately due to them.
Odunaiya also said the Federal Government, through PTAD, remained committed to improving the welfare and dignity of pensioners.
She said the administration of President Bola Tinubu had demonstrated its commitment to addressing outstanding pension liabilities and ensuring that Nigerians who spent their productive years serving the country received their legitimate retirement benefits.
The PTAD boss added that the years of sacrifice and service rendered by senior citizens would continue to be recognised as the government pursued initiatives aimed at protecting their welfare and promoting a dignified retirement.
