Pensioners under the auspice of Nigeria Electricity Power Authority/Power Holding Company of Nigeria (NEPA/PHCN), on Wednesday, staged a peaceful protest demanding the payment of N25,332,295,129.5 pension arrears due to them from 2012 till date.
Addressing journalists during the protest in Benin,vice chairman, South-south National Union of Pensioners (Electricity Sector), Comrade Monday Adodo, said the amount is the arrears due to them since 2012 when NEPA/PHCN was privatized.
He said as at the time of privatization, the pensioners’ outstanding benefits were over N25 billion.
“The breakdown is as follows: Harmonization Arrears N14,306,479,450.49k, Monetization Arrears N7,072,029,6074.96k, Year 2000 Retiree/Retirement Benefits N3,037,607,883.08k,” he explained.
Adodo noted that the amount owed them have been forwarded to the Nigeria Electricity Liability Management Company, which was then in charge of payment of their pension and other benefits.
He added “between April/May 2015, our pension and liabilities were transferred to Pension Transitional Arrangement Directorate, PTAD for settlement,”.
He therefore appealed to president Muhammadu Buhari on the need to implement the 33 percent awarded to the pensioners by the past administration as well as ensuring that N30,000 new minimum wage also reflected in their pension.