The lawmaker warned that prolonged delays in pension payments could expose elderly and vulnerable pensioners to poverty, ill health and avoidable loss of lives.
By Moses Okorie
The House of Representatives has invited the Governor of the Central Bank of Nigeria (CBN) to explain alleged irregularities and discrepancies in the payment of pension benefits to retired employees of the apex bank.
The invitation followed the adoption of a motion moved by Rep. Hussain Jallo (APC-Kaduna) during plenary on Tuesday.
Moving the motion, Jallo expressed concern over alleged non-compliance with approved pension policies, contractual agreements and other retirement entitlements, saying the situation had subjected former CBN employees to severe financial hardship.
He alleged that the non-implementation and faulty execution of the Harmonisation Policy had resulted in disparities in pension benefits and the accumulation of unpaid arrears.
According to him, the situation had denied some retirees their rightful entitlements, leaving many who depended on their pensions for survival in difficult financial circumstances.
The lawmaker further alleged that some pensioners had been excluded from general pension increases based on additional or extra-statutory demands that might not be consistent with existing laws, binding agreements and approved pension policies.
Jallo disclosed that the number of CBN pensioners had declined from 5,104 in 2011 to approximately 3,000 currently, representing a reduction of more than 2,100 retirees.
He expressed concern that the decline, averaging about 140 pensioners annually, could indicate an accelerating mortality rate among the surviving retirees as they advance in age.
The lawmaker warned that prolonged delays in pension payments could expose elderly and vulnerable pensioners to poverty, ill health and avoidable loss of lives.
He stressed that retirees who had served the country deserved fairness, transparency and prompt payment of all benefits legally due to them.
Jallo said legislative intervention was necessary to establish the facts surrounding the allegations, determine possible breaches or administrative failures and ensure that all eligible pensioners received their lawful entitlements.
Consequently, the House invited relevant pension administrators, regulatory agencies and representatives of the affected pensioners to appear and provide explanations, alongside supporting documentary evidence.
The lawmakers also urged the CBN and other relevant authorities to verify and settle all outstanding pension arrears lawfully owed to the retirees within a reasonable and clearly defined timeframe.
They further recommended that eligible pensioners be included in applicable general pension increases in line with relevant laws and approved policies.
Ruling on the motion, Speaker of the House, Rep. Abbas Tajudeen, mandated the House Committee on Pension to investigate the allegations and report back within four weeks for further legislative action.