Pensioners Laud Tinubu Over Payment Of N39.6bn Arrears

According to Ireporter Online, the National President of the Nigeria Union of Pensioners, Godwin Abumisi, has commended President Bola Tinubu over the approval and disbursement of N39.6bn, representing 10.6 per cent pension increase arrears owed to retirees under the Defined Benefit Scheme.

Abumisi gave the commendation during an interview with TVC News shortly after the Pension Transitional Arrangement Directorate (PTAD) and the Ministry of Finance confirmed the release of funds on Friday. He said the intervention reflects the Federal Government’s growing commitment to improving the welfare of senior citizens and restoring confidence among pensioners across the country.

He expressed satisfaction with the administration, noting that the Tinubu-led government had undertaken several pension-related interventions, including the release of N758bn for arrears and gratuities under the Contributory Pension Scheme, as well as N58bn for additional pension liabilities under the Defined Benefit Scheme. He added that the latest N39.6bn payment further demonstrates what he described as consistent efforts to clear long-standing obligations.

Abumisi further stated that pensioners were beginning to experience improved payment systems, stressing that delays previously associated with pension administration had significantly reduced since the current administration assumed office. He praised the regularity of monthly pension payments and described it as a major relief for retirees.

He also expressed optimism that the government would sustain and expand its pension reforms, while urging pensioners nationwide to continue supporting the administration ahead of the 2027 general elections, saying the progress recorded so far should be encouraged for continuity.

Meanwhile, PTAD explained that the recent disbursement forms part of more than N39bn in inherited pension liabilities covering defunct institutions including NITEL/MTEL, PHCN, Assurance Bank, NICON, and the defunct People’s Bank of Nigeria. The agency disclosed that the funds include payments for pension arrears, backlog settlements, and partial liquidation of increment-related obligations affecting thousands of retirees.

The Executive Secretary of PTAD, Tolulope Odunaiya, described the development as a reflection of the administration’s Renewed Hope Agenda, noting that approval for the payments was granted in 2025 and backed by funding provisions in the 2026 Appropriation Act.