Tinubu approves ₦39.6bn pension arrears payment under Defined Benefit Scheme

Pensioners Applaud Tinubu Over ₦39.6bn Arrears Payment

The Nigeria Union of Pensioners (NUP) has commended President Bola Tinubu for approving the payment of ₦39.6 billion in arrears owed to retirees under the Defined Benefit Scheme.Speaking after the Pension Transitional Arrangement Directorate (PTAD) and the Ministry of Finance announced the disbursement, NUP National President, Godwin Abumisi, described the move as a major boost to pensioners’ welfare.“We are very happy with the present government. No president in Nigeria has achieved as much as His Excellency, Bola Tinubu. No other president has done as much as he has,” Abumisi said in an interview with TVC News.He highlighted other interventions credited to Tinubu’s administration, including ₦758bn released for arrears of pension and gratuity under the Contributory Pension Scheme, and ₦58bn for arrears owed to retirees under the Defined Benefit Scheme.Abumisi noted that pensioners now receive their monthly payments regularly, unlike in the past when delays were common. He urged retirees to remain loyal to the government and support Tinubu’s re-election bid in 2027.The Federal Government confirmed that the latest payments cover liabilities inherited from defunct institutions such as NITEL, MTEL, PHCN, Assurance Bank, NICON, and the People’s Bank of Nigeria. According to PTAD, the settlement was approved in August 2025 and funded through the 2026 Appropriation Act.The Executive Secretary of PTAD, Tolulope Odunaiya, described the payments as part of the government’s Renewed Hope Agenda, aimed at restoring dignity and financial security to elderly citizens.

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Pensioners hail Tinubu over N39.6bn arrears payment

Nigerian pensioners commend President Tinubu for approving N39.6bn pension increase arrears payment, strengthening confidence in his administration’s commi Read More: https://punchng.com/pensioners-hail-tinubu-over-n39-6bn-arrears-payment/

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