The Pension Transitional Arrangement Directorate (PTAD) has successfully disbursed the sum of ₦9,476,313,375.74 (Nine Billion, Four Hundred and Seventy-Six Million, Three Hundred and Thirteen Thousand, Three Hundred and Seventy-Five Naira, Seventy-Four Kobo) to 3,958 eligible PHCN Pensioners under the Defined Benefit Pension Scheme (DBS), representing the outstanding 50% balance of arrears arising from the Back-End Computation (BEC).
This latest disbursement follows the payment of ₦9,481,886,576.53 (Nine Billion, Four Hundred and Eighty-One Million, Eight Hundred and Eighty-Six Thousand, Five Hundred and Seventy-Six Naira, Fifty-Three Kobo) made in June 2026 to the same group of Pensioners, representing the first 50% tranche of the BEC arrears, a statement by the Directorate’s Spokesperson, Olugbenga Ajayi, noted.
With this payment, the Directorate has fully settled the BEC arrears owed to the affected PHCN Pensioners, bringing the total amount disbursed to ₦18,958,199,952.27 (Eighteen Billion, Nine Hundred and Fifty-Eight Million, One Hundred and Ninety-Nine Thousand, Nine Hundred and Fifty-Two Naira, Twenty-Seven Kobo).
The full settlement marks a significant milestone in the resolution of outstanding pension liabilities and further demonstrates the commitment of the Federal Government and PTAD to safeguarding the welfare and entitlements of pensioners under the DBS.
The Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the Directorate’s unwavering commitment to ensuring that every eligible DBS Pensioner receives all entitlements legitimately due to them.
She further highlighted the commitment of the administration of His Excellency, President Bola Ahmed Tinubu, GCFR, to the welfare, dignity and well-being of DBS Pensioners. The Federal Government, through PTAD continues to give practical expression to this commitment by addressing outstanding pension liabilities and ensuring that those who devoted their productive years to the service of the Nation receive the benefits due to them.
According to the Executive Secretary, the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured, as the administration advances initiatives aimed at protecting their welfare and promoting a more dignified and secure retirement.
