Pension Directorate Pays N12.39bn Arrears to 11,145 Nitel/Mtel Pensioners

By Mohammed Mohammed 

The Pension Transitional Arrangement Directorate (PTAD) has paid N12,393,567,595.80 (Twelve billion three hundred and ninety-three million five hundred and sixty-seven thousand five hundred and ninty-five naira eighty kobo only).

The disbursement, the Directorate said represents 15-months settlement of inherited unfunded pension liabilities to 11,145 (Eleven thousand, one hundred and Forty five) Nitel/Mtel pensioners.

PTAD Executive Secretary, Dr Chioma Ejikeme, explained that the 15 months payment is part of the outstanding 63 months of inherited unfunded pension liabilities to NITEL/Mtel pensioners leaving a balance of 48 months yet to be settled.

Ejikeme, acknowledged that in 2018 and after 12 years of uncertainty post privatization, PTAD onboarded ex-workers of NITEL/Mtel to the monthly pension payroll in fulfillment of President Muhammadu Buhari’s commitment to ensuring that all eligible pensioners get their entitlements.

At the onset, the inherited unfunded pension liability for NITEL/MTEL stood at 84-months, she added.

So far, the President Muhammadu Buhari Administration through PTAD has cleared 36-months out of the inherited arrears as follows: 1-month in 2019, 6-months in 2020; 14-months in 2021 and 15-months in 2022.

The PTAD boss gave the assurance that the backlog of NITEL/Mtel inheritied pension liabilities will continue to be cleared subject to available funds.

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