The Pension Transitional Arrangement Directorate (PTAD) has disbursed N9.47 billion to 3,958 pensioners of the Power Holding Company of Nigeria (PHCN), completing the payment of outstanding back-end computation (BEC) arrears owed to the beneficiaries.
PTAD disclosed this in a statement issued on Thursday and signed by its Head of Corporate Communications, Olugbenga Ajayi.
The N9,476,313,375.74 payment represents the outstanding 50 per cent balance of BEC arrears owed to eligible pensioners under the defined benefit scheme.
The latest disbursement followed the payment of N9,481,886,576.53 in June 2026, representing the first 50 per cent tranche of the arrears.
With the latest payment, PTAD said the total amount disbursed to the affected pensioners had risen to N18,958,199,952.27.
The directorate said the payment had fully settled the BEC arrears owed to the affected PHCN pensioners.
Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the directorate’s commitment to ensuring that every eligible defined benefit scheme pensioner receives all legitimate entitlements due to them.
“The Directorate remains unwaveringly committed to ensuring that every eligible DBS Pensioner receives all entitlements legitimately due to them,” she said.
Odunaiya said the administration of President Bola Tinubu remained committed to the welfare, dignity and wellbeing of defined benefit scheme pensioners.
She said the years of service rendered by Nigeria’s senior citizens would continue to be recognised as the administration advances initiatives aimed at protecting their welfare and promoting a more secure retirement.
PTAD described the full settlement as a milestone in resolving outstanding pension liabilities owed to the affected PHCN pensioners.
