FG Pays N3.9bn Pension Backlog

In a significant boost for Nigerian pensioners who have retired, the Federal Government, via the Pension Transitional Arrangement Directorate (PTAD), has released N3.9 billion in accumulated arrears to 91,146 qualified pensioners enrolled under the Defined Benefit Scheme (DBS).

The disbursement forms part of the N32,000 monthly pension increase sanctioned by President Bola Tinubu, delivering much-needed and long-overdue financial relief to tens of thousands of former workers throughout the nation.

These arrears have been settled across various pension departments, covering Parastatals, Civil Service, Police, Customs, Immigration and Prisons. The action underscores the Federal Government’s determination to settle all pending pension liabilities and enhance the well-being of retired citizens.

The detailed distribution of the funds reveals that N1.9 billion was allocated to 59,865 pensioners under the Parastatals Pension Department; N830 million was disbursed to 12,976 pensioners in the Civil Service category; N620 million reached 9,689 pensioners from the Police sector; and N551 million was paid to 8,616 pensioners in the combined Customs, Immigration, and Prisons group.

In a statement, the head of PTAD’s Corporate Communications, Olugbenga Ajayi, quoted PTAD’s Executive Secretary, Tolulope Odunaiya, as highlighting the Federal Government’s steadfast resolve to clear outstanding arrears.

She said, “The completion of this payment is a clear demonstration of the administration’s commitment to improving pensioners’ welfare under the Renewed Hope Agenda of President Bola Ahmed Tinubu. We remain focused on ensuring timely and consistent payment of pensions across all departments.”

Odunaiya went on to emphasise that the disbursements represent deliberate measures to restore dignity and ensure financial stability for retirees who have waited patiently for their rightful benefits.

She added, “Our pensioners deserve timely payment, and we are working to ensure no eligible beneficiary is left behind. This is part of our ongoing strategy to eliminate arrears and enhance transparency in pension administration.”

While giving assurance that the agency will keep overseeing the payment process, the Executive Secretary further stated, “This payment is a significant step forward. But we remain committed to maintaining a system that guarantees consistent support for retirees nationwide.”

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli