FG Clears N39.6bn Pension Arrears for Former NITEL, PHCN, Bank Workers

The Federal Government has paid more than N39.6 billion in outstanding pension liabilities to thousands of retirees under the Defined Benefit Scheme (DBS), ending years of unpaid arrears owed to former employees of the defunct Nigerian Telecommunications Limited (NITEL), Mobile Telecommunications Limited (MTEL), Power Holding Company of Nigeria (PHCN), Assurance Bank, NICON, and the People’s Bank of Nigeria.

The Pension Transitional Arrangement Directorate (PTAD) announced the payment on Friday, describing it as a major milestone in the Federal Government’s efforts to clear inherited pension liabilities and improve the welfare of retired public servants.

According to PTAD, the disbursement fulfils President Bola Ahmed Tinubu’s commitment under the Renewed Hope Agenda to resolve longstanding pension obligations that had remained unpaid for several years.

A breakdown of the payments shows that N25.05 billion was released to settle 35 months of pension arrears owed to 9,675 eligible retirees of the defunct NITEL and MTEL.

The Federal Government also paid N9.48 billion, representing the first 50 per cent of the Back End Computation (BEC) arrears due to 3,959 eligible PHCN pensioners.

In addition, N5.09 billion was disbursed as the outstanding balance of the 10.66 per cent and 12.95 per cent pension increment arrears owed to 11,180 eligible pensioners from Assurance Bank, NICON, NITEL, and the People’s Bank of Nigeria.

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In total, the latest payment benefits more than 24,800 retirees, many of whom had waited years for the settlement of their outstanding entitlements.

PTAD said the payment represents another significant step towards restoring confidence in Nigeria’s pension administration system, particularly for pensioners under the Defined Benefit Scheme, which predates the country’s contributory pension system.

Speaking on the development, the Executive Secretary of PTAD, Tolulope Odunaiya, praised President Tinubu for approving the release of funds to offset the inherited liabilities.

She described the payment as evidence of the administration’s commitment to protecting the welfare and dignity of retired public servants.

“These landmark achievements mark yet another significant milestone in the Federal Government’s unwavering commitment to safeguarding the welfare and dignity of Defined Benefit Scheme pensioners. It is a clear demonstration of the visionary leadership of President Bola Ahmed Tinubu, whose Renewed Hope Agenda places priority on social protection, inclusive governance and the well-being of senior citizens,” she said.

Odunaiya noted that the settlement had resolved some of the oldest outstanding pension liabilities inherited by the current administration.

“Under the President’s leadership, the Directorate has successfully resolved all longstanding inherited pension liabilities, bringing lasting relief to thousands of Defined Benefit Scheme pensioners.”

She explained that the payment followed presidential approval granted in August 2025, while the required funds were subsequently provided in the 2026 Appropriation Act.

According to her, clearing the arrears underscores the Federal Government’s commitment to sustaining pension reforms and ensuring retirees receive their entitlements without unnecessary delays.

“The successful liquidation of these liabilities underscores the Federal Government’s resolve to sustain pension reforms and ensure that Defined Benefit Scheme pensioners receive their rightful entitlements in a timely manner, consistent with the objectives of the Renewed Hope Agenda.”

Odunaiya also thanked the affected retirees for their patience throughout the period the liabilities remained unpaid.

She reaffirmed PTAD’s commitment to transparent, efficient and pensioner-focused service delivery while assuring beneficiaries that the agency would continue working to improve pension administration.

The Defined Benefit Scheme covers federal retirees who left public service before the introduction of the Contributory Pension Scheme (CPS) under the Pension Reform Act 2004. Established in 2013, PTAD is responsible for administering pensions under the old scheme and settling outstanding obligations inherited from defunct government agencies and privatised public enterprises.

For years, pensioners’ associations have repeatedly appealed to the Federal Government to clear accumulated arrears and implement approved pension increases, arguing that inflation and the rising cost of living had significantly eroded retirees’ purchasing power.

Labour and pension advocacy groups have welcomed the latest payment as a positive step towards rebuilding confidence in the country’s pension system. However, they urged the government to ensure that future pension payments, arrears and approved increments are settled promptly to prevent another backlog.

Analysts also believe the clearance of the inherited liabilities will strengthen confidence in Nigeria’s pension reforms, improve retirees’ welfare and demonstrate the government’s commitment to honouring its obligations to former public servants.

The latest disbursement forms part of broader efforts by the Federal Government to modernise pension administration, eliminate legacy debts and ensure timely payment of benefits to retirees across the country.

FG Clears N39.6bn Pension Arrears for Former NITEL, PHCN, Bank Workers

Emefiele Trial: Witness Tells Court $6.23m CBN Election Observer Fund Was ‘Pure Theft’

The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a dramatic turn on Thursday as a prosecution witness told the Federal Capital Territory (FCT) High Court in Abuja that the controversial release of $6.23 million for a purported foreign election observer mission was fraudulent and amounted to “pure theft.”

The allegation was made by the 14th prosecution witness, Commissioner of Police Okpoziakpo Eloho of the Nigeria Police Force Fraud Unit, during proceedings before Justice Hamza Muazu in the ongoing case filed by the Economic and Financial Crimes Commission (EFCC) against the former CBN governor.

According to the EFCC, the witness testified that the entire $6.23 million was released based on Emefiele’s approval without sufficient documentation to justify the expenditure.

“The entire money was released. We saw the approval of the governor,” Eloho told the court.

He further alleged that investigators found no legitimate basis for the transaction.

“It was pure theft. It was stolen, otherwise obtained under false pretence,” the police commissioner testified.

While identifying Exhibit PD5, which purportedly contained a presidential directive authorising a foreign election observer mission, the witness insisted that investigators concluded the document was fraudulent.

“Our finding with regards to PD5 is that it is all fraud,” he said.

The prosecution witness also disclosed that investigators recovered part of the allegedly diverted funds.

Although he could not recall the exact amount, Eloho said approximately $800,000 had been recovered during the course of the investigation.

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“I can’t remember the figure but it was about Eight Hundred Thousand United States Dollars,” he told the court.

During cross-examination by defence counsel, Matthew Burkaa (SAN), the witness acknowledged that Emefiele, as the CBN governor at the time, had authority over the bank’s funds.

However, he maintained that the disbursement did not comply with the Central Bank’s established approval procedures.

According to Eloho, the approval moved directly from the governor to the Director of Banking Services without following the normal administrative chain through a deputy governor.

“This document is from the governor to the Director Banking Services. Protocol was not followed. I presume that the procedure would have been for the document to follow through the deputy governor,” he testified.

The witness also identified Jibril Abubakar as the individual who allegedly received the $6.23 million.

Presenting Exhibit PD4, Eloho told the court that although Abubakar presented a staff identity card linked to the Office of the Secretary to the Government of the Federation (OSGF), investigators established that the identification number did not belong to him.

“The staff ID card number does not belong to him. He is not a staff of the SGF. That is what the investigation revealed,” the witness said.

Eloho further informed the court that investigators interviewed former Secretary to the Government of the Federation (SGF), Boss Mustapha, during the investigation.

According to him, although one of the documents tendered by the prosecution purportedly originated from the SGF’s office, Mustapha denied that the signature appearing on the document belonged to him.

The EFCC alleges that the $6.23 million was released in February 2023 for the payment of foreign election observers ahead of Nigeria’s 2023 general election based on forged presidential approval.

The anti-graft agency is prosecuting Emefiele on charges bordering on criminal breach of trust, forgery, conspiracy, and obtaining by false pretence, arguing that the election observer mission never existed and that the documents used to obtain the funds were fabricated.

Emefiele has pleaded not guilty to all the charges and continues to deny any wrongdoing.

The former CBN governor is also facing separate criminal cases before the Federal High Court and the FCT High Court involving allegations of procurement fraud, abuse of office, unlawful possession of firearms and corruption. He has equally denied those allegations.

Following Thursday’s proceedings, Justice Hamza Muazu adjourned the matter until Friday, July 3, 2026, for the continuation of the trial.

The case remains one of Nigeria’s most closely watched corruption trials, with the prosecution seeking to establish that the controversial $6.23 million CBN disbursement was fraudulently authorised, while the defence maintains that Emefiele acted within the powers vested in him as governor of the apex bank.

Emefiele Trial: Witness Tells Court $6.23m CBN Election Observer Fund Was ‘Pure Theft’

Documents Expose How Disputed Presidential Council Secured Approval to Recruit 300 Staff

Fresh documents have revealed that the Federal Government (FG) approved the recruitment of 300 personnel for the controversial Presidential Foreign Intervention Promotion Council (PFIPC) in August 2025, despite the Presidency later declaring that the council was not officially recognised under President Bola Tinubu’s administration.

The revelation has raised fresh concerns over the council’s legal status, the recruitment process, budgetary allocations and the level of official approval it received before being publicly disowned by the Presidency.

A letter dated August 7, 2025, issued by the Office of the Head of the Civil Service of the Federation (OHCSF), granted the PFIPC a waiver to recruit staff despite the Federal Government’s existing embargo on general recruitment into the federal civil service.

The approval, signed by the Director of Organisation Design and Development, Mimi Abu, was also copied to the Office of the Secretary to the Government of the Federation (OSGF) and stated that the waiver was based on the council’s 2025 Approved Establishment.

Under the approval, the council received permission to recruit 10 directors on Grade Level (GL) 17, 20 assistant directors on GL15 and 44 administrative officers across different grade levels.

The waiver also covered the recruitment of 45 planning officers, 32 commercial officers, 22 investment promotion officers, 26 accountants, 13 procurement officers, 12 information officers, 11 programme analysts, 10 legal officers, 10 motor drivers/mechanics, nine executive officers (Accounts), nine executive officers (General Duties), seven data processing assistants, six statisticians, six technical officers in engineering disciplines, five data processing officers and three confidential secretaries.

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In the approval letter, the Head of Service’s office directed the council to obtain clearance from the Budget Office of the Federation before commencing recruitment, comply with the Federal Character Principle and reserve five per cent of available positions for persons living with disabilities.

The letter also warned the council not to exceed the approved number of recruits and instructed that officials of the Head of Service’s office should supervise the recruitment exercise to ensure compliance with the waiver.

Just one day after receiving the approval, PFIPC Director-General Adeniyi Adeyemi publicly thanked President Tinubu in a social media post, claiming the administration had approved the recruitment.

“Mr President, we are growing because you believe in us,” Adeyemi wrote.

He also announced plans to establish PFIPC offices in all 36 states and the Federal Capital Territory (FCT), alongside 127 international offices, which he said would promote Nigerian businesses and attract foreign direct investment.

However, the council’s activities came under intense scrutiny on June 11, 2026, when Chief of Staff to the President, Femi Gbajabiamila, issued an official statement distancing the Presidency from the PFIPC.

Gbajabiamila stated that the council was not recognised by the Federal Government and had no legal authority to operate on behalf of President Tinubu’s administration.

The Presidency’s disclaimer triggered widespread questions about how the council secured official recruitment approval, operated from a government office and appeared in the federal budget despite its disputed status.

The controversy deepened further after reports indicated that the PFIPC was allocated approximately ₦1.3 billion in the 2026 Appropriation Act, including ₦802.98 million for personnel costs, ₦200 million for overhead expenditure and ₦300 million for capital projects.

Reports also showed that Adeyemi had been operating from an office within the Federal Secretariat in Abuja, where he hosted diplomats, government officials and foreign investors while organising several official engagements under the council’s name.

Meanwhile, presidential spokesman Bayo Onanuga disclosed that the Nigeria Police Force has filed an eight-count criminal charge against Adeyemi over allegations including impersonation, forgery and related offences.

Reacting to the Presidency’s position, Adeyemi rejected claims that the PFIPC lacked official recognition and called on President Tinubu to establish an independent panel to investigate the dispute.

He further alleged that the controversy began after he refused to surrender 48 per cent of the council’s take-off grant to unnamed individuals.

Adeyemi also claimed he paid ₦400 million to secure his appointment as Director-General and still had an outstanding balance of ₦200 million.

The Presidency has not publicly responded to those allegations, which remain unverified.

The emergence of the recruitment approval documents has intensified calls for a thorough investigation into the PFIPC, particularly regarding its legal status, recruitment process, budgetary allocation and the circumstances under which it obtained official approvals before later being disowned by the Presidency.

The matter is expected to remain under public and legal scrutiny as criminal proceedings against Adeyemi continue and lawmakers sustain oversight of federal agencies and public expenditure.

Documents Expose How Disputed Presidential Council Secured Approval to Recruit 300 Staff