The Federal Government has completed the payment of ₦18.96 billion in outstanding pension arrears owed to retirees of the defunct Power Holding Company of Nigeria (PHCN).
The Pension Transitional Arrangement Directorate (PTAD) paid the final ₦9.48 billion tranche to 3,958 eligible pensioners under the Defined Benefit Scheme, according to a statement by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
The latest disbursement followed the payment of an initial ₦9.48 billion to 3,959 pensioners in June 2026, bringing the total amount released to ₦18.96 billion.
The government explained that the slight difference in the number of beneficiaries between the two tranches was due to the death of one pensioner after the first payment.
Oyedele said the completion of the payment demonstrated the government’s commitment to clearing inherited pension liabilities and ensuring that verified entitlements owed to retirees were settled.
He also commended PTAD for its role in coordinating the payment exercise and ensuring that eligible pensioners received their outstanding benefits.
The Federal Government said the clearance of the PHCN pension arrears was part of its broader efforts to resolve inherited pension obligations and strengthen the administration of pension payments to eligible beneficiaries.
