By Gabriel Ameh
The Pension Transitional Arrangement Directorate (PTAD) has paid ₦9.47 billion in outstanding Back-End Computation (BEC) arrears to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS).
The latest payment of ₦9,476,313,375.74 represents the outstanding 50 per cent balance of the BEC arrears owed to the affected pensioners.
The payment follows an earlier disbursement of ₦9,481,886,576.53 made by PTAD in June 2026, which represented the first 50 per cent tranche of the arrears.
With the latest disbursement, PTAD said it has now fully settled the BEC arrears owed to the affected PHCN pensioners, bringing the total amount paid to ₦18,958,199,952.27.
The Directorate described the full settlement as a significant step in resolving outstanding pension liabilities owed to eligible PHCN pensioners under the DBS.
Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the Directorate’s commitment to ensuring that all eligible Defined Benefit Scheme pensioners receive their legitimate entitlements.
Odunaiya also said the Federal Government, under President Bola Ahmed Tinubu’s administration, remains committed to the welfare, dignity and well-being of pensioners.
According to her, PTAD will continue to address outstanding pension liabilities and ensure that Nigerians who dedicated their productive years to public service receive the benefits due to them.
She added that the sacrifices and years of service rendered by Nigeria’s senior citizens would continue to be recognised as the government advances initiatives aimed at improving their welfare and promoting a more secure and dignified retirement.
The latest payment is expected to bring closure to the outstanding BEC arrears for the affected PHCN pensioners.
Olugbenga Ajayi, mnipr
Head, Corporate Communications
PTAD
17 September 2026
