N1.023 billion has been paid by the federal government to 7,091 pensioners in the transportation and electricity industries.
The agency’s Head of Corporate Communications, Gbenga Ajayi, cited Chioma Ejikeme, the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), as saying as much in a statement on Saturday.
As to the statement, the payment signified 39% of the pension arrears that pensioners accrued inside the Parastatals Pensions Department (PaPD) between August 2015 and September 2023.
It further stated that a back-end calculation carried out by PTAD was used to estimate the arrears.
According to the agency, the examination uncovered a payroll problem that required remedial action because it resulted in 7,091 pensioners in the sector receiving insufficient payments.
Ejikeme had pointed out that in order to guarantee that each pensioner received an appropriate pension for justice, equity, and fairness, the back-end computation was required.