Thousands of NITEL, PHCN and other retirees finally get long-awaited payments
By Queen Kunde
Thousands of retired federal workers have received a major financial lifeline after the Federal Government cleared more than 39 billion naira in long-standing pension debts owed to pensioners under the Defined Benefit Scheme (DBS).
The payments, announced by the Pension Transitional Arrangement Directorate (PTAD), fulfilled President Bola Ahmed Tinubu’s promise to settle inherited pension liabilities under his Renewed Hope Agenda.
The biggest payment was over 25 billion naira, used to clear a 35-month pension backlog owed to 9,675 pensioners of the defunct NITEL and MTEL.
Another 9.48 billion naira was released as the first 50 per cent payment of Back End Computation (BEC) arrears for 3,959 retired PHCN workers.
The government also paid 5.09 billion Naira, representing the remaining 50 per cent of pension increment arrears owed to 11,180 retirees from the defunct Assurance Bank, NICON, NITEL and People’s Bank of Nigeria.
PTAD Executive Secretary, Tolulope Odunaiya, described the payments as a major milestone, saying they have finally brought an end to years of inherited pension liabilities that had caused hardship for thousands of retirees.
She said the settlement became possible after President Tinubu approved the payments in August 2025, while the funds were provided in the 2026 Appropriation Act.
According to her, the successful clearance of the outstanding debts reflects the Federal Government’s commitment to ensuring that pensioners receive their benefits promptly and with dignity.
Odunaiya thanked affected pensioners for their patience over the years and assured them that PTAD would continue to improve pension administration through transparent and efficient service delivery.
The latest payment is expected to bring relief to thousands of retired workers and their families, many of whom had waited years for the settlement of their outstanding pension entitlements.
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