WorldStage— Pensioners of the defunct National Electric Power Authority (NEPA) and Power Holding Company of Nigeria (PHCN) have staged a peaceful protest at the Tafawa Balewa Square in Lagos, demanding the immediate release of over ₦350 billion in outstanding pension arrears.
Operating under the aegis of the Concerned NEPA/PHCN Pensioners, the aggrieved senior citizens carried placards calling for immediate federal government intervention.
The protesters expressed deep frustration over decades of systemic neglect, alleging that the Pension Transitional Arrangement Directorate (PTAD) has deliberately stalled payments despite the central authorities already approving and releasing the required funds.
Speaking during the demonstration, the group’s Lead Coordinator, Mr. Murtala Dunmoye, stated that retirees from the year 2000 suffered a 42 percent shortfall in their terminal emoluments calculation, adding that the mathematical discrepancy has severely reduced their pensions and gratuities for over two decades.
Dunmoye further explained that the ₦350 billion debt spans accumulated arrears from pension harmonization, unpaid monetisation benefits, and discontinued utility allowances.
According to him, out of more than 4,000 qualified beneficiaries, only about 3,000 have received any monetisation disbursements.
Another affected retiree, Mr. Julius Ayodeji, shared his frustration regarding unfair discrepancies in recent payouts.
Ayodeji, who retired as a manager, noted that his disbursements fell far below expectations and were inexplicably lower than amounts received by junior colleagues who retired during the same period.
The protesters lamented that the financial delays have left many members sick, impoverished, and unable to afford essential medications, with several passing away while waiting for their life savings.
The group urged President Bola Tinubu to probe PTAD’s payroll records and fast-track the disbursements.
In response, an anonymous source at PTAD stated that the group is not an officially-recognized union, but affirmed that their complaints would be compiled and presented to appropriate authorities.
