The Federal Government, via the Pension Transitional Arrangement Directorate (PTAD), completes payment of N18.96 billion in outstanding pension arrears to 3,958 former Power Holding Company of Nigeria (PHCN) employees. The money is paid under the Defined Benefit Pension Scheme and covers arrears owed to eligible retirees.
According to reports, the disbursement settles back-end computation (BEC) arrears. One outlet specifies that the N18.96 billion payment includes an N9.476 billion component representing the remaining 50% balance of the BEC arrears for the affected pensioners. While both sources describe the same total amount, number of retirees, and the purpose of the payment, they differ slightly in emphasis—one focuses on the completion of clearing the arrears, while the other highlights the breakdown of the payment as part of the BEC arrears settlement.
