The House of Representatives has resolved to summon the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, over alleged breaches of pension agreements and the non-payment of entitlements to retired employees of the apex bank.
The resolution followed the adoption of a motion titled “Need to Investigate the Central Bank of Nigeria for Alleged Breach of Approved Pension Agreements, Non-Implementation of Harmonisation Policy and Exclusion of Pensioners from General Pension Increases” during plenary on Tuesday.
The motion was moved by the member representing Igabi Federal Constituency of Kaduna State, Hussaini Jallo, who expressed concern over alleged non-compliance with agreements governing the pension benefits and welfare of retired CBN workers.
Jallo said the alleged failure to implement the harmonisation policy had created disparities in pension payments and resulted in accumulated arrears, leaving affected retirees in financial hardship.
He also raised concerns over the alleged exclusion of some pensioners from general pension increases based on additional demands that may not be supported by existing laws, contractual agreements or approved pension policies.
The lawmaker disclosed that the number of CBN pensioners had dropped from 5,104 in 2011 to approximately 3,000, representing a decline of more than 2,100 retirees.
He warned that prolonged delays in pension payments could expose elderly and vulnerable pensioners to poverty, ill health and avoidable loss of life.
Following the adoption of the motion through a voice vote presided over by Speaker Tajudeen Abbas, the House urged the CBN and relevant authorities to verify and pay all outstanding pension arrears lawfully due to affected retirees within a clearly defined period.
Lawmakers also called for the extension of applicable general pension increases to all eligible pensioners in accordance with existing laws.
The House further resolved to invite Cardoso, relevant CBN officials, pension administrators, regulators and representatives of affected pensioners to appear before it and provide explanations, alongside relevant documentary evidence.
Additionally, its Committee on Pension was mandated to investigate the alleged breaches of pension agreements, the non-implementation of the harmonisation policy and the exclusion of eligible retirees from general pension increases.
The committee is expected to examine relevant agreements, policy circulars, payment records and actuarial reports, establish responsibility for any administrative failures and recommend appropriate corrective measures to ensure that all eligible pensioners receive their lawful entitlements.
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