TMV Hails FG's Clearance of ₦39bn Ex-NITEL, PHCN Pension Arrears as Historic Milestone

TMV Hails FG's Clearance of ₦39bn Ex-NITEL, PHCN Pension Arrears as Historic Milestone

The Tinubu Media Volunteers (TMV) has described the Federal Government's approval of the payment of ₦39 billion in pension arrears owed to former staff of NITEL, PHCN and other retirees under the Defined Benefit Scheme (DBS) as a historic and commendable achievement.

In a statement jointly signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group noted that the settlement is particularly significant because the pension arrears had remained unpaid for more than two decades.

According to the statement, the prolonged delay in settling the pensions subjected thousands of retirees to untold hardship and constituted a long-standing concern for their families as well as an embarrassment to the nation.

"We believe that workers who dedicated their productive years to serving the country deserve to receive their entitlements promptly. Timely payment of pensions not only upholds the dignity of labour but also inspires future generations to contribute meaningfully to national development," the group stated.

TMV further said the approval reflects the Federal Government's commitment to improving workers' welfare and protecting the rights and dignity of retirees.

The group also noted that many of the outstanding liabilities were inherited by the current administration and expressed the view that their settlement demonstrates the Tinubu administration's determination, under the Renewed Hope Agenda, to clear outstanding pension obligations and restore confidence in the nation's pension administration.

It added that the payment represents another important milestone in the Federal Government's efforts to improve the welfare of retirees, strengthen confidence in the pension system and provide long-awaited relief to affected pensioners.