FEPPPAN lauds Tinubu over N39bn pension liabilities settlement, hails NITEL/MTEL arrears liquidation

THE Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) has applauded President Bola Tinubu, for approving the liquidation of more than N39 billion inherited Defined Benefit Scheme (DBS) pension liabilities, with the settlement of the long-standing 35-month pension arrears owed to 9,675 pensioners of the defunct NITEL/MTEL emerging as the largest component of the intervention.

The association described the development as a true demonstration of the government’s commitment to restoring the dignity, welfare and financial security of thousands of retirees whose pension entitlements had remained outstanding for years.

FEPPPAN also commended the Pension Transitional Arrangement Directorate (PTAD), the National Assembly, Federal Ministry of Finance, the Budget Office of the Federation, Office of the Accountant-General of the Federation and other relevant government institutions for their respective roles in facilitating the successful implementation of the presidential approval.

In a statement jointly signed by its president-general, Elder Benjamin Maisamari Amako, and general secretary, Mr Franklin Erinle, the association said the intervention reflects the importance President Tinubu’s administration attaches to social protection, responsible governance and the welfare of pensioners under the Renewed Hope Agenda.

According to FEPPPAN, the over N39 billion settlement includes N25.05 billion paid to clear the outstanding 35-month pension liabilities of eligible pensioners of the defunct NITEL/MTEL, N9.48 billion representing the first tranche of the Back End Computation (BEC) arrears for eligible PHCN pensioners and N5.09 billion covering the outstanding balance of the 10.66 per cent and 12.95 percent pension increment arrears due to eligible pensioners of the defunct Assurance Bank, NICON, NITEL and People’s Bank of Nigeria.

The association said President Tinubu’s approval was “a clear demonstration of the President’s commitment to the welfare of pensioners under the Renewed Hope Agenda and a significant step towards restoring the dignity, confidence and financial security of retirees who devoted the greater part of their productive years to the service of the nation.”

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It added that the settlement “represents not only the liquidation of inherited financial liabilities but also the restoration of hope to thousands of retirees and their families who had patiently awaited the fulfilment of government’s obligations.”

FEPPPAN specifically commended PTAD for what it described as its professionalism in implementing the presidential approval through the verification of beneficiaries, computation of entitlements and seamless disbursement of the approved funds. It equally applauded the National Assembly for making the necessary budgetary provisions through the 2026 Appropriation Act and acknowledged the collaborative roles played by the Federal Ministry of Finance, the Budget Office of the Federation, the Office of the Accountant-General of the Federation and other government institutions.

While expressing appreciation for the intervention, the association reminded the Federal Government that pension is “neither a privilege nor an act of charity” but a legitimate right earned through years of dedicated service. It therefore appealed to President Tinubu to sustain the momentum by ensuring the settlement of all outstanding pension obligations, prompt payment of monthly pensions and continued reforms capable of protecting retirees against inflation and the rising cost of living.