The Pension Transitional Arrangement Directorate has disbursed N18.96bn to settle outstanding Back-End Computation arrears owed to 3,958 eligible pensioners of the former Power Holding Company of Nigeria under the Defined Benefit Pension Scheme.

The latest payment of N9.476bn represents the outstanding 50 per cent balance, following an initial disbursement of N9.482bn in June 2026.

In a statement posted on its X handle on Thursday, PTAD said the two payments brought the total amount disbursed to N18,958,199,952.27, completing the settlement of the BEC arrears owed to the affected pensioners.

The Directorate described the payment as “a significant milestone in the resolution of outstanding pension liabilities,” saying it demonstrated the Federal Government’s commitment to protecting the welfare and entitlements of pensioners under the DBS.

“The latest disbursement follows the payment of N9,481,886,576.53 (Nine Billion, Four Hundred and Eighty-One Million, Eight Hundred and Eighty-Six Thousand, Five Hundred and Seventy-Six Naira, Fifty-Three Kobo) made in June 2026.
“With this payment, the Directorate has fully settled the BEC arrears owed to the affected PHCN Pensioners, bringing the total amount disbursed to N18,958,199,952.27 (Eighteen Billion, Nine Hundred and Fifty-Eight Million, One Hundred and Ninety-Nine Thousand, Nine Hundred and Fifty-Two Naira, Twenty-Seven Kobo).”

PTAD Executive Secretary, Tolulope Odunaiya, reaffirmed the agency’s commitment to ensuring that all eligible pensioners receive the benefits to which they are legitimately entitled.

She also highlighted the President Bola Ahmed Tinubu administration’s focus on the welfare of pensioners, saying that “the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured.”

PTAD said it would continue its efforts to resolve outstanding pension obligations and ensure that retirees who dedicated their productive years to national service receive their rightful entitlements.

The latest payment follows other Federal Government efforts to settle outstanding retirement-related obligations.

PenCom has also extended the deadline for the mandatory online verification and enrolment of eligible Federal Government workers to December 31, 2026, following low participation in the exercise.