The Tinubu Media Volunteers (TMV) has commended the Federal Government for completing payment of N18.96 billion in outstanding pension arrears to 3,958 former staff of the defunct Power Holding Company of Nigeria (PHCN) under the Defined Benefit Pension Scheme.
According to a statement signed by the group’s Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the Pension Transitional Arrangement Directorate (PTAD) had earlier disbursed N9.48 billion in June 2026, covering the first 50 per cent of the arrears.
The remaining balance of N9.48 billion has now been paid, bringing the total settlement to N18.96 billion and clearing the pensioners’ outstanding entitlements in full.
TMV described the disbursement as a major milestone, saying it reflects the Tinubu administration’s commitment to the welfare of Nigerian pensioners.
The group noted that the payment, like the earlier settlement of Nigerian Airways pensions, addresses liabilities that had remained unpaid for more than 20 years before the current administration took office.
The statement added that the Federal Government is systematically resolving such long standing pension issues and continues to recognise the contributions of retirees who spent their working years in national service.
TMV commended the government for extending these benefits to the affected pensioners in appreciation of their years of service to the country.
