PTAD Paid N29.99bn to Retirees Under DBS in Q3 2025

Ebere Nwoji

The Pension Transitional Arrangement Directorate (PTAD), has said it paid a total of N29.99 billion to retirees who received their retirement benefits through the old pension order of Defined Pension Benefit scheme in the third quarter 2025.

The directorate said a total of 168,511 retirees received the above figure within the stated period.

This is contained in the third quarter report of activities in the pension industry published by the National Pension Commission (PenCom).

The report also noted that there was no change in the level of implementation of the Contributory Pension Scheme (CPS) across the states and the Federal Capital Territory (FCT) within the period.

It said 17 states had established Pension Bureaux, while six states remained at the legislative stage.

It mentioned the states as Cross River State, where the Pension Reform Bill has been passed by the State House of Assembly but is still awaiting the Governor’s assent.

The report said similarly, the number of states that have adopted the Contributory Defined Benefits Scheme (CDBS) remained at six with only Jigawa and Kano States actively implementing the scheme.

It noted that Katsina State has commenced the process of transitioning from the CDBS to the CPS.

It highlighted the status of various states in implementation of the CPS saying that eight states have fully implement the CPS.

The report mentioned the states as Lagos, Kaduna, Edo, Ondo, FCT, Ekiti, Osun Jigawa. Only Delta state has substantially implemented its CPS scheme.

Seven states have partially implemented the CPS, according to the PenCom report and they are Anambra, Kebbi, Benue Rivers, Kano, Niger states.

SIFAX Group Opens 2026 with Innovation-driven Growth Plan

SIFAX Group has opened the 2026 business year with a strong declaration of intent, unveiling an innovation-driven growth plan aimed at strengthening operations, deepening technology adoption, and expanding its footprint across West Africa.

The Chairman of the Group, Dr. Taiwo Afolabi, made this known in his New Year message to employees, partners, and stakeholders, where he outlined the company’s strategic priorities for the year while reflecting on a strong performance in 2025.

According to Afolabi, the Group’s focus for 2026 is anchored on “Growth through Innovation,” with renewed emphasis on operational excellence, collaboration across subsidiaries, sustainability, and customer-centric service delivery. He noted that SIFAX Group is positioning itself to respond proactively to industry changes and emerging opportunities across its diverse business portfolio.

He said: “Our priorities include advancing technological integration across our logistics and maritime operations, expanding the use of cleaner and more sustainable energy solutions, and deepening our presence within the West African sub-region, particularly through our financial services businesses. Above all, we remain steadfast in our mission to become Africa’s global conglomerate: trusted, resilient, ethical, and impactful.”

Afolabi said the innovation push would also support the Group’s regional expansion strategy, especially in West Africa, as it seeks to consolidate its presence and scale its financial services offerings.