By Olamide FAKEYE
Nigeria – The Pension Transitional Arrangement Directorate (PTAD) has finalized the payment of another installment of pension arrears arising from the NGN32,000 increment approved by President Bola Ahmed Tinubu, GCFR in 2024.
According to a statement by Olugbenga Ajayi, Head, Corporate Communications of PTAD, the latest installment, which totals NGN8.6 billion, covers all 148,625 eligible Defined Benefit Scheme (DBS) pensioners across the Police, Civil Service, Parastatals, as well as the Customs, Immigrations and Prisons Pensions Departments of the Directorate.
This payment, he said is in continuation of the Federal Government’s settlement of arrears accruing from the second pension increment of NG32,000 approved by Mr. President in July 2024. PTAD had earlier fully settled the arrears of the first increment of 20/28% approved by the President, which took effect from January 2024.
“The breakdown of the payment is as follows: 1. The sum of NGN5.7 billion was paid to 59,342 eligible pensioners under Parastatals Pensions Department (PaPD);
2. The sum of NGN2.3 billion was paid to 71,084 eligible pensioners under the Civil Service Pensions Department (CSPD);
3. The sum of NGN310 million was paid to 9,579 pensioners under the Police Pension Department (PPD); and, 4. The sum of NGN276 million was paid to 8,620 pensioners under the Customs, Immigration and Prisons (now Correctional Service) Pension Department”, Ajayi stated.
Announcing the payment, the Executive Secretary of PTAD, Tolulope A. Odunaiya reiterated the unwavering commitment of the federal government towards the full settlement of the outstanding balance accruing from the increment.
The Executive Secretary further emphasized the unflinching determination of the Federal Government to proceed with its programmes aimed at improving the welfare of pensioners in line with Mr. President’s Renewed Hope Agenda.
