The Pension Transitional Arrangement Directorate (PTAD), said it has paid about N12.4 billion, representing 15-months settlement of inherited unfunded pension liabilities to 11,145 Nitel/Mtel pensioners.
PTAD Executive Secretary, Dr Chioma Ejikeme, was quoted as saying in a statement 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-privatization, PTAD onboarded ex-workers of NITEL/Mtel to the monthly pension payroll in fulfilment of the Federal Government’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.
The 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.
Ejikeme gave the assurance that the backlog of NITEL/Mtel inherited pension liabilities will continue to be cleared subject to available funds.
…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.
