The Bola Tinubu administration has paid a total of N39.63 billion to 24,814 eligible Defined Benefit Scheme (DBS) pensioners.

The Federal Ministry of Finance confirmed the payment of the pension liabilities from inheritance in a statement on Friday.

The payment was said to cover outstanding liabilities to pensioners of the defunct Nigerian Telecommunications Limited (NITEL), Mobile Telecommunications Limited (MTEL), Power Holding Company of Nigeria (PHCN), Assurance Bank, NICON Insurance and the defunct People’s Bank of Nigeria.

On the development, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele said it is a re-affirmation of the federal government’s commitment to improving the welfare of Nigerian pensioners.

The payments were made by the Pension Transitional Arrangement Directorate (PTAD) under the supervision of the Federal Ministry of Finance, on the directive of the Minister to give priority to the payment of verified pension liabilities.

The payment shows the administration’s commitment to ensure that retired public servants are paid the benefits they worked for over decades of dedicated service, Oyedele said.

“A nation that values service must also honor those who gave their productive years in its service. It is about people, not just numbers. It is about restoring confidence, rewarding sacrifice and giving thousands of pensioners and their families the reassurance that they have not been forgotten,” Head of Information and Public Relations at the Ministry, Efe Ovuakporie, quoted Oyedele as saying.

The Minister said the disbursement covered three categories of outstanding pension obligations that had built up over the years.

It said PTAD paid N25,053,703,604.12 to liquidate the outstanding 35 months pension liability due to 9,675 eligible Defined Benefit Scheme pensioners of the defunct NITEL/MTEL.

The Directorate also disbursed ₦9,481,886,576.53 representing the initial 50 per cent payment of the Back-End Computation (BEC) arrears due to 3,959 eligible PHCN Defined Benefit Scheme pensioners.

In addition, PTAD paid the sum of ₦5,094,784,054.27 being the outstanding 50 per cent balance of the 10.66 per cent and 12.95 per cent pension increment arrears due to 11,180 eligible Defined Benefit Scheme pensioners of the defunct Assurance Bank, NICON Insurance, NITEL and People’s Bank of Nigeria.

“The government continues to be conscious of the real lives behind each pension payment,” Oyedele said.

Behind every approved payment, the Minister said, “there is a retiree who faithfully served this country, a family who has waited patiently, and a story that deserves a positive ending.

“We will continue to support programs that enhance the lives of our senior citizens without sacrificing fiscal discipline and accountability.”

He praised the management and staff of PTAD for the swift implementation of the directive, saying the successful disbursement was a demonstration of what can be achieved when institutions come together in the public interest.

“PTAD has shown professionalism in implementing this exercise. “The Ministry will continue to provide policy direction and support required to strengthen pension administration and ensure that verified obligations are settled as resources become available,” Oyedele said.

The Director-General of PTAD, Mrs. Tolulope Odunaiya, stated that the Directorate is committed to providing efficient pension administration and thanked the Minister for his leadership and support, which enabled the release and quick disbursement of the funds.

The post Tinubu Government Pays Outstanding Pensions to Former NITEL and MTEL Workers appeared first on TheNigerian.

Since 2012, the Akwa Ibom State Government has paid retired civil officials more than N82 billion in emoluments and inherited gratuities totaling N111 billion.

Umo Eno, the state governor, made this announcement in his Easter broadcast on Sunday, stating that his administration is still dedicated to fulfilling his campaign pledge to pay off all gratuity commitments before the conclusion of his first term.

“Out of the N111 billion we inherited as gratuities and other emoluments of our retirees since 2012, we have already paid over N82 billion, and we are still on track to clear the backlog, ideally before the conclusion of our first term in office.

“I’m pleased to report that we are keeping the campaign promise we made,” Eno stated.

The governor also used the occasion to showcase his ARISE Agenda scorecard, revealing that since taking office in 2023, his administration has started building 1,300 kilometers of roads, including both inherited projects and ones he started and finished.

He went on to say that during the most recent Executive Council meeting, an additional 167 kilometers of roads were approved, highlighting the fact that every local government area has been impacted by the projects, which include feeder roads, general hospitals, model primary schools, model primary healthcare facilities, and road construction.

More than 1,300 kilometers of roads have been built since we took office in 2023; some were inherited, while others were initiated and finished by our government.

We approved an extra 167 kilometers of state-wide roadways at our most recent EXCO meeting. During the festivities commemorating our third year in power, some of the continuing roadways will be put into service, he stated.

“Today, we boldly state that we have touched every local government area in this state with roads, model primary healthcare centers, model primary schools, feeder roads, general hospitals like the one in Ukanafun, and others currently under construction,” he declared.

Drawing inspiration from the Easter theme of hope, Eno acknowledged difficulties but reassured everyone that they would all be conquered.

“Let me reassure you, my dear people, that no matter what we are up against, we will rise together and conquer our obstacles.

“Just as the Resurrected Christ offered salvation, hope, and redemption, we shall keep working hard to enhance our people’s welfare and well-being.

“Hope and faith in the ennobling ideals of a Christ-centered government we had promised you will define our future,” he declared.

The post Akwa Ibom State Pays N82bn to Clear Retirees’ Gratuities appeared first on TheNigerian.