The Federal Government completes the disbursement of over ₦39.6 billion to resolve outstanding pension liabilities accumulated under the Defined Benefit Scheme. This fiscal intervention effectively concludes years of unpaid entitlements that previously plagued thousands of former public workers from several defunct state enterprises. Top officials from the Federal Ministry of Finance announced the development following an executive briefing between the head of the Pension Transitional Arrangement Directorate and the coordinating minister of the economy.
The newly released capital covers multiple layers of backlogged liabilities that accumulated across distinct operational periods. Administrators directed the largest single allocation, totaling ₦25.05 billion, to clear 35 months of outstanding allowances for nearly ten thousand retired workers from the former national telecommunications provider and its mobile subsidiary. Additionally, the treasury processed ₦9.48 billion to fulfill the first half of the Back End Computation arrears for thousands of former staff members of the defunct national power holding utility.
Economic planners describe the comprehensive payment model as an intentional effort to respect state commitments to former labor forces while enforcing strict management of public resources. Financial administrators note that the intervention goes beyond simple financial clearance, working instead to restore system trust and secure vulnerable households. The ministry intends to sustain long-term structural frameworks that preserve steady funding paths so that future state liabilities undergo prompt settlement.
This comprehensive capital release provides significant financial relief to thousands of aged citizens who spent multiple years seeking the resolution of their legitimate workplace claims. By eliminating these historic institutional deficits, the current administration seeks to stabilize the domestic welfare landscape for senior citizens nationwide. Moving forward, the specialized pension regulatory body maintains an active confirmation mechanism to ensure all verified beneficiaries receive their statutory payments directly and seamlessly
