N12.39bn pension arrears paid to 11,145 Nitel/Mtel pensioners – PTAD

The Pension Transitional Arrangement Directorate (PTAD) 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.

According to the statement released by the Directorates Management on Monday in Abuja, the PTAD Executive Secretary, Dr Chioma Ejikeme explained that the fifteen (15) months payment is 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.

Stated further that in 2018 and after 12 years of uncertainty post privatization, the Directorates 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 entitlement s.

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

Adding that so far, the President 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.

While the ES, Dr Ejikeme 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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