Relief as FG Pays N39bn Pension Arrears to Thousands of Nigerian Retirees
Thousands of Nigerian pensioners have received a major financial lifeline as the Federal Government disbursed over N39 billion in long-awaited pension arrears, bringing relief to retirees who have endured years of uncertainty and delayed payments.
The payment, executed through the Pension Transitional Arrangement Directorate (PTAD), settles longstanding pension liabilities owed to former workers of defunct organisations, including NITEL, MTEL, PHCN, Assurance Bank, NICON and the defunct People’s Bank of Nigeria. The intervention affects more than 24,000 retirees under the Defined Benefit Scheme.
For many beneficiaries, the development marks the end of years of waiting for entitlements earned through decades of service. The largest portion of the payment, amounting to N25.05 billion, cleared 35 months of outstanding pension liabilities owed to 9,675 former NITEL and MTEL pensioners. Another N9.48 billion was released as the first tranche of Back End Computation arrears for eligible PHCN retirees, while N5.09 billion settled outstanding pension increment arrears for pensioners from Assurance Bank, NICON, NITEL and People’s Bank.
PTAD described the payment as a significant step toward restoring the dignity and welfare of retired workers, noting that the settlement resolves inherited pension obligations that had lingered for years. The agency also expressed appreciation to pensioners for their patience and confidence throughout the period of delay.
The payment has been welcomed by pensioners’ representatives, who say it reflects growing attention to the welfare of elderly citizens and offers renewed hope to retirees across the country.
For thousands of Nigerian pensioners and their families, the disbursement is more than a financial transaction—it is a long-awaited acknowledgment of their years of service and a welcome relief from the burden of unpaid pension obligations.
