Nigeria pays 13.87 billion naira to 18,822 retirees
By the AFREEQUE newsroom, based on P.M. News
Nigeria has paid 13.87 billion naira in pension arrears to 18,822 retirees under the defined-benefit scheme. The payments cover increases granted to former employees of state-owned companies, according to the Pension Transitional Arrangement Directorate.
Nigeria has paid 13.87 billion naira in pension adjustment arrears to 18,822 retirees covered by the defined-benefit scheme, the Pension Transitional Arrangement Directorate (PTAD) announced, according to Nigerian news agency NAN.
Of this sum, 9.42 billion naira was paid to 7,391 retirees from the former state-owned electricity company PHCN. The payments cover 65 months of arrears, from 1 June 2021 to 31 October 2026, linked to a 13.8% pension increase. The remaining 4.46 billion concerns 11,431 retirees from five former agencies, including NITEL/MTEL and NICON Insurance, for 22 months of arrears linked to a 20.55% increase, from 1 January 2025 to 31 October 2026.
The two increases were approved by the National Salaries, Incomes and Wages Commission (NSIWC) in a circular dated 14 January 2026. PTAD communications head Olugbenga Ajayi said the payments concerned entitlements accrued up to 31 October.
