₦39.63bn Disbursed to 24,814 Nigerian Pensioners

On July 3, 2026, Mr. Taiwo Oyedele, the Honourable Minister of Finance, announced the disbursement of ₦39.63 billion to 24,814 pensioners under the Defined Benefit Scheme (DBS) as the Pension Transitional Arrangement Directorate (PTAD) cleared long-standing pension liabilities.

This payment aims to alleviate the anxieties of thousands of retirees who have been waiting for their benefits. The disbursement reflects the administration's commitment to ensuring that retired public servants receive the benefits they earned over decades of dedicated service.

The funds cover outstanding pension obligations accumulated over the years, with ₦25,053,703,604.12 allocated to clear 35 months of pension liabilities owed to 9,675 eligible pensioners from defunct companies like NITEL and MTEL. Additionally, ₦9,481,886,576.53 was disbursed to 3,959 eligible pensioners from the PHCN scheme, and ₦5,094,784,054.27 was paid to 11,180 eligible pensioners from the defunct Assurance Bank and NICON Insurance.

Mr. Oyedele emphasized the importance of these payments in restoring confidence and providing financial support to pensioners and their families.