FEDERAL GOVERNMENT CLEARS ₦18.96bn PHCN PENSION ARREARS
The Federal Government says it has fully cleared the 18.96 billion naira in pension arrears owed to retirees of the defunct Power Holding Company of Nigeria.
A statement by the Finance Minister and Coordinating Economy, Taiwo Oyedele confirms that the Pension Transitional Arrangement Directorate (PTAD) has paid the final 50 percent balance of 9.48 billion naira to 3,958 eligible pensioners under the Defined Benefit Scheme.
It notes that it follows the first tranche of a similar amount paid in June 2026 to 3,959 pensioners, bringing the total disbursed to 18.96 billion naira.
The statement explains that the slight difference between both tranches was due to the death of one pensioner after the first payment.
The Minister states that the payment is a demonstration of the government's resolve to clear inherited pension liabilities and ensure verified entitlements are settled and commended PTAD for diligently coordinating the exercise.
