The Pension Transitional Arrangement Directorate (PTAD) in a latest information said it has paid a total of 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) representing 15-months settlement of inherited unfunded pension liabilities to 11,145 Nitel/Mtel pensioners.
A statement by the agency’head of corporate communication, Okugbenga Ajayi, in Abuja, quoted PTAD Executive Secretary Dr Chioma Ejikeme as saying the fifteen (15) months payment was part of the outstanding sixty-three (63) months of inherited unfunded pension liabilities to NITEL/Mtel pensioners leaving a balance of 48months yet to be settled.
PTAD further explained that In 2018 and after 12 years of uncertainty post privatization, it onboarded ex-workers of NITEL/Mtel to the monthly pension payroll in fulfillment of President Muhammadu Buhari’s commitment to ensuring all eligible pensioners get their entitlements. At the onset, the inherited unfunded pension liability for NITEL/MTEL stood at 84-months.
“So far, the President Muhammadu Buhari led government 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 agency, said,
Furthermore, it said Ejikeme, backed PTAD’s goods track records in offsetting pensioners’ owed pensions with the assurance that the backlog of NITEL/Mtel inheritied pension liabilities, would continue to be cleared subject to available funds.
PTAD pays N12.39bn pension arrears to 11,145 Nitel/Mtel pensioners
