The Pension Transitional Arrangement Directorate (PTAD) has completed the payment of outstanding Back-End Computation (BEC) arrears to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN).

In a press release issued on Thursday, PTAD said, “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).”

The Directorate said the latest payment followed an earlier disbursement made in June 2026.

According to PTAD, “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.”
The agency said the latest payment brings the total amount disbursed to the affected pensioners to nearly ₦19 billion.

“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),” PTAD stated.

The Directorate described the settlement as significant in addressing outstanding pension obligations.

“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,” it said.

PTAD Executive Secretary, Tolulope Odunaiya, also reaffirmed the Directorate’s commitment to pensioners.

“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.”

The agency further quoted Odunaiya as highlighting the administration’s commitment to the welfare of pensioners.

“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 statement, Odunaiya also said the contributions of senior citizens would continue to be recognised.

“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.”

The development brings to an end the outstanding BEC payments owed to the affected PHCN pensioners, with PTAD reiterating its commitment to resolving pension liabilities and ensuring that eligible retirees receive their legitimate entitlements.