The Pension Transitional Arrangement Directorate say it has paid N12.39bn representing 15 months settlement of inherited unfunded pension liabilities to 11,145 Nitel/Mtel pensioners.
A statement said the Executive Secretary, PTAD, Dr Chioma Ejikeme, explained that the payment was part of the outstanding 63 months of inherited unfunded pension liabilities to NITEL/Mtel pensioners, leaving a balance of 48 months yet to be settled.
It stated, “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 Major General Muhammadu Buhari (Rted.)’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.”
Ejikeme gave the assurance that the backlog of NITEL/Mtel inherited pension liabilities would continue to be cleared subject to available funds.
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