The Pension Transitional Arrangement Directorate (PTAD) has paid a total of N12,393,567,595.80 representing 15-months settlement of inherited unfunded pension liabilities to 11,145 pensioners of the defunct Nigeria Telecommunication Limited (Nitel/Mtel).
PTAD Executive Secretary, Dr Chioma Ejikeme explained that the 15-months payment is 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.
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 President Muhammadu Buhari-led government through PTAD has cleared 36-months out of the inherited arrears as follows: 1-month in 2019; 6-months in 2020; 14-months in 2021 and 15-months in 2022.
Dr Ejikeme gave the assurance that the backlog of the defunct NITEL/Mtel inherited pension liabilities will continue to be cleared subject to available funds.
Writing by Muzha Kucha; Editing by Tersoo Nicholas