FG Pays N18.96bn PHCN Pension Arrears to 3,958 Retirees
Oru Leonard
The Tinubu Media Volunteers (TMV) has commended the Federal Government for the disbursement of N18.96 billion in outstanding pension arrears owed to 3,958 former workers of the Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group said the latest payment of N9.476 billion represents the outstanding 50 per cent balance of the back-end computation arrears owed to the affected pensioners.
According to the group, the Pension Transitional Arrangement Directorate (PTAD) had in June 2026 released N9.482 billion as the first 50 per cent tranche of the arrears.
With the latest payment, TMV said the total amount disbursed has risen to N18.958 billion, effectively settling the outstanding pension liabilities owed to the affected former PHCN workers.
The group described the development as a major milestone in addressing longstanding pension liabilities and commended the Federal Government for prioritising the welfare of pensioners.
TMV said the arrears had remained outstanding for more than two decades, adding that their settlement demonstrated the government’s attention to issues affecting retired workers.
It also cited the settlement of outstanding pensions of former Nigerian Airways workers as another example of efforts to address legacy pension liabilities.
The group further stated that the payments recognise the contributions of Nigerians who devoted their productive years to national service.
TMV urged the Federal Government to sustain efforts to resolve other outstanding pension-related obligations and ensure that retired workers receive benefits due to them.
