Tinubu approves payment of N13.87bn pension arrears to 18,822 retirees

The Federal Government has paid N13.87 billion in pension increment arrears to 18,822 retirees under the Defined Benefit Scheme (DBS), the Pension Transitional Arrangement Directorate (PTAD) has said. The payment covers outstanding arrears arising from the 13.8 per cent and 20.55 per cent pension increments approved by President Bola Tinubu for pensioners of the defunct Power Holding Company of Nigeria…