A total of ₦18.96 billion in outstanding Back-End Computation arrears has been fully settled for 3,958 eligible Power Holding Company of Nigeria (PHCN) retirees under the Defined Benefit Scheme, according to the Pension Transitional Arrangement Directorate (PTAD).
The final tranche of ₦9.476 billion was recently disbursed to clear the remaining 50 per cent balance, following an initial payment of ₦9.482 billion released in June 2026.
The Executive Secretary of PTAD, Tolulope Odunaiya, reiterated the agency’s commitment to ensuring all eligible senior citizens receive their legitimate dues, highlighting the broader efforts of President Bola Ahmed Tinubu’s administration to enhance the well-being of pensioners. She stated that “the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured” as measures to guarantee a dignified retirement progress.
In a statement posted on its official X account on Thursday, PTAD described the completion of the ₦18,958,199,952.27 payout as “a significant milestone in the resolution of outstanding pension liabilities,” underscoring the Federal Government’s dedication to protecting retirees’ entitlements. The Directorate added that the government will remain focused on clearing remaining pension debts so that former public servants are properly compensated for their years of national service.