Good news for thousands of pensioners — the FG has finally cleared a massive ₦39.6bn backlog, and it’s putting smiles back on faces after years of delays.

As reported by cbinews.tv, the Federal Government has just ticked off a huge item from its to-do list — paying out over ₦39.6 billion in pension arrears to retired public servants under the Defined Benefit Scheme.

This wraps up years of frustration for pensioners from several defunct government agencies who’ve been chasing their entitlements.

The update came on Friday from the Federal Ministry of Finance. It followed a meeting between PTAD’s Executive Secretary, Mrs Tolulope Odunaiya, and the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.

Here’s how the money was shared out, according to cbinews.tv:

- ₦25.05bn went to clear 35 months of unpaid pensions for 9,675 ex-NITEL and MTEL staff. That’s the biggest chunk.

- ₦9.48bn covered the first half of Back End Computation arrears for 3,959 retired PHCN workers.

Mr Oyedele called it proof that government is serious about keeping its promises to pensioners, while still managing public funds responsibly.

His words: “For many pensioners, this is more than the settlement of outstanding arrears; it is the restoration of confidence and dignity. The Ministry of Finance will continue to support measures that strengthen public financial management while ensuring that government obligations are met in a sustainable and timely manner.”

For thousands of retirees and their families, this payment means long-awaited relief after years of uncertainty.

Source: cbinews.tv

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