PTAD pays N12.39bn arrears to 11,145 Nitel/Mtel pensioners

By Luther Animashaun

The Pension Transitional Arrangement Directorate (PTAD), has paid a total of N12,39 billion to clear a 15-month estimated arrears for 11,145 Nitel/Mtel pensioners.

Chioma Ejikeme, the PTAD executive secretary, who made the disclosure, explained that the 15 months payment is part of the outstanding 63 months of inherited unfunded pension liabilities to the pensioners, leaving a balance of 48 months yet to be settled.

Giving an insight on the payment of arrears, Ejikeme explained that In 2018 and after 12 years of uncertainty post-privatisation, PTAD 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 entitlements.

“At the onset, the inherited unfunded pension liability for NITEL/MTEL stood at 84 months. So far, the Buhari-led government through PTAD has cleared 36 months out of the inherited arrears as follows: one month in 2019; six months in 2020; 14 months in 2021, and 15 months in 2022,” she added.

The PTAD executive secretary further assured that the backlog of NITEL/Mtel inherited pension liabilities will continue to be cleared subject to available funds.