The Federal Government has settled more than N39 billion in inherited pension liabilities owed to former NITEL, PHCN and bank workers.
ABUJA, FCT — The Federal Government has announced the payment of over N39 billion in pension liabilities owed to former workers of NITEL, PHCN and several defunct banks. According to government officials, the payments form part of efforts to clear long-standing obligations inherited by the current administration.
Authorities said the settlement fulfills the commitment of President Bola Tinubu to address outstanding pension issues affecting thousands of retired workers. The payments are expected to provide relief to many pensioners who had waited for years to receive their entitlements.
According to official statements, the government has continued to prioritise workers’ welfare and the settlement of inherited liabilities. Officials said the payment demonstrates a commitment to restoring confidence in the country’s pension system and addressing concerns raised by affected retirees.
The pension liabilities date back several years and involve former employees of government-owned and privatised institutions. The issue has remained a major concern for retirees and labour groups, many of whom repeatedly called on successive administrations to settle the outstanding obligations.
The development means thousands of affected pensioners may finally receive long-awaited financial relief after years of uncertainty. It also signals continued efforts by the Federal Government to resolve legacy financial obligations and improve confidence in public sector welfare policies.
