Nigeria Settles Over N39.6bn Pension Liabilities

The Finance Minister of Nigeria received a briefing from Tolulop Odunaiya, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), regarding the successful settlement of over N39.6 billion in outstanding pension liabilities. This amount includes the settlement of 35 months of pension arrears owed to eligible pensioners from defunct companies such as NITEL, MTEL, and PHCN.

The briefing highlighted the government's commitment to transparency and efficient pension administration. The resolution of these inherited liabilities reflects the federal government's dedication to improving the welfare of pensioners, ensuring that senior citizens receive their rightful entitlements.

This initiative is part of President Bola Ahmed Tinubu's Renewed Hope Agenda, reinforcing the administration's commitment to social protection and the dignity of retired public servants.