FG settles N39.6bn inherited pension liabilities

The Federal Government has settled more than N39.6 billion in inherited pension liabilities under the Defined Benefit Scheme (DBS), bringing to a close long-standing pension obligations owed to thousands of retirees across several defunct public enterprises and financial institutions.
The development was disclosed on Thursday during a briefing by the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Mrs Tolulope Odunaiya, to the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele.
According to PTAD, the payments comprise N25.05 billion to offset 35 months of outstanding pension liabilities owed to 9,675 eligible pensioners of th...