The Pension Transitional Arrangement Directorate has completed the payment of about N18.96bn in outstanding pension arrears to 3,958 former Power Holding Company of Nigeria workers.
The agency said the beneficiaries, who are covered under the Defined Benefit Scheme, have now received the full amount owed to them from the back-end computation of their pension benefits.
PTAD disclosed that the latest payment of N9.47bn represented the second and final instalment of the arrears.
The first half, valued at N9.48bn, was paid in June 2026, bringing the combined disbursement to N18,958,199,952.27.
The agency’s Head of Corporate Communications, Olugbenga Ajayi, disclosed the figures in a statement.
PTAD Executive Secretary, Tolulope Odunaiya, said the agency would continue working to ensure eligible pensioners receive their outstanding benefits.
“The Directorate remains unwaveringly committed to ensuring that every eligible DBS Pensioner receives all entitlements legitimately due to them,” she said.
She added that the Federal Government’s efforts were aimed at improving the welfare and retirement security of pensioners.
“The years of sacrifice and meritorious service rendered by Nigeria’s senior citizens will continue to be recognised and honoured, as the administration advances initiatives aimed at protecting their welfare and promoting a more dignified and secure retirement,” she said.
The directorate described the latest disbursement as the conclusion of the outstanding BEC liability owed to the affected PHCN pensioners.