The Pension Transitional Arrangement Directorate has completed the payment of ₦18.96 billion in outstanding arrears owed to 3,958 former employees of the Power Holding Company of Nigeria under the Defined Benefit Pension Scheme.
The latest payment of ₦9.476 billion represents the remaining 50 per cent of Back-End Computation arrears owed to the affected pensioners. PTAD said the payment completes the settlement of the specific BEC liability covering the 3,958 eligible PHCN pensioners.
The latest disbursement followed an earlier payment of ₦9.482 billion made in June 2026. The two payments bring the total amount released to ₦18,958,199,952.27.
PTAD said the latest payment marks the completion of the BEC arrears for the affected group of PHCN pensioners and represents part of its efforts to resolve outstanding pension liabilities under the Defined Benefit Scheme.
The Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the agency’s commitment to ensuring that eligible pensioners receive the benefits legitimately due to them.
She said the Directorate would continue working to address outstanding pension obligations and protect the welfare of retirees who served in the public sector.
The latest payment comes after the Federal Government approved a broader disbursement of pension liabilities earlier in 2026. In July, PTAD announced the payment of ₦39.63 billion to 24,814 eligible Defined Benefit Scheme pensioners covering several categories of outstanding liabilities.
That earlier disbursement included ₦25.05 billion for 35 months of pension liabilities owed to 9,675 former NITEL and MTEL workers, ₦9.48 billion as the first tranche of the PHCN BEC arrears and ₦5.09 billion in pension increment arrears involving pensioners from Assurance Bank, NICON Insurance, NITEL and the former People's Bank of Nigeria.
The completion of the PHCN BEC payment is significant for the affected retirees because it brings an end to the particular arrears covered by the two-tranche exercise.
However, the payment should not be interpreted as the settlement of every outstanding claim by all former PHCN or power-sector pensioners. Different categories of pension liabilities and claims may be subject to separate verification, computation and government approval.
The distinction is important because representatives of some former NEPA and PHCN workers have previously raised concerns over other outstanding pension entitlements. Pensioner groups have claimed that additional liabilities remain unresolved, although those broader claims are separate from the BEC arrears that PTAD says have now been fully settled.
PTAD's latest announcement therefore concerns the specific ₦18.96 billion BEC liability owed to the 3,958 eligible pensioners covered by the payment.
For the beneficiaries, the completion of the disbursement provides access to pension arrears that had remained outstanding. The development also adds to the Federal Government's wider efforts to address verified liabilities under the Defined Benefit Pension Scheme.
PTAD said it would continue to process legitimate pension obligations in accordance with applicable approvals and verification requirements.
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