PTAD Pays ₦9.47bn to 3,958 PHCN Pensioners, Clears BEC Arrears
Oru Leonard
The Pension Transitional Arrangement Directorate (PTAD) has disbursed ₦9.476 billion to 3,958 eligible pensioners of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme (DBS).
The payment represents the outstanding 50 per cent balance of arrears arising from the Back-End Computation (BEC).
In a statement issued on Thursday, September 17, 2026, PTAD said the latest payment followed an earlier disbursement of ₦9.482 billion made in June 2026 to the same group of pensioners, representing the first 50 per cent tranche of the BEC arrears.
With the latest payment, PTAD said the BEC arrears owed to the affected PHCN pensioners have been fully settled, bringing the total amount disbursed to ₦18.958 billion.
The Directorate described the development as a significant milestone in resolving outstanding pension liabilities and reaffirmed the Federal Government’s commitment to protecting the welfare and entitlements of pensioners under the DBS.
The Executive Secretary of PTAD, Tolulope Odunaiya, reaffirmed the Directorate’s commitment to ensuring that every eligible DBS pensioner receives all entitlements legitimately due to them.
Odunaiya also highlighted the commitment of the administration of President Bola Ahmed Tinubu to the welfare, dignity and wellbeing of DBS pensioners.
According to her, the Federal Government, through PTAD, is giving practical expression to this commitment by addressing outstanding pension liabilities and ensuring that Nigerians who devoted their productive years to national service receive the benefits due to them.
She said the years of sacrifice and meritorious service rendered by Nigeria’s senior citizens would continue to be recognised and honoured through initiatives aimed at protecting their welfare and promoting a more dignified and secure retirement.
The statement was signed by Olugbenga Ajayi, mnipr, Head, Corporate Communications, PTAD, and dated September 17, 2026.
