The House of Representatives has invited the Governor of the Central Bank of Nigeria (CBN) to explain alleged discrepancies in the payment of pensions and retirement benefits to former bank employees, following complaints of unpaid arrears and unequal pension payments.
The invitation followed the adoption of a motion moved by Rep. Hussain Jallo (APC-Kaduna) during plenary on Tuesday. The lawmakers also directed the House Committee on Pension to investigate the allegations and submit its report within four weeks to determine whether affected retirees have been denied their lawful entitlements.
Moving the motion, Jallo said alleged failure to implement approved pension policies and contractual agreements had caused disparities in pension benefits and left some former CBN employees without their rightful entitlements.
He specifically raised concerns over the alleged faulty implementation of the Harmonisation Policy, which he said may have resulted in unequal pension payments and accumulated arrears.
According to the lawmaker, some pensioners also claimed they had been excluded from general pension increases because of additional or extra-statutory demands that may not be consistent with applicable laws, binding agreements or approved pension policies.
Jallo further disclosed that the number of CBN pensioners had declined from 5,104 in 2011 to approximately 3,000, representing a reduction of more than 2,100 retirees.
He said the mortality rate among the pensioners was likely increasing as the surviving retirees advanced in age.
The lawmaker warned that prolonged delays in pension payments could expose elderly and vulnerable retirees to poverty, ill health and avoidable loss of life.
He stressed that pensioners who had served the country deserved fairness, transparency and prompt payment of all benefits lawfully due to them.
Jallo said legislative intervention was necessary to establish the facts, determine the extent of any breaches or administrative failures, and ensure that all eligible pensioners received their entitlements.
The House also invited relevant pension administrators, regulators and representatives of affected pensioners to provide explanations and submit supporting documents.
The lawmakers urged the CBN and other relevant authorities to verify and pay all outstanding pension arrears lawfully owed to affected retirees within a reasonable and clearly defined period.
They also recommended that applicable general pension increases be extended to eligible pensioners in line with relevant laws.
In his ruling, Speaker of the House, Rep. Abbas Tajudeen, directed the House Committee on Pension to investigate the allegations and submit its report within four weeks for further legislative action.
