BY AHMED AKANBI
The House of Representatives has summoned Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, over alleged breach of approved pension agreements and non-payment of benefits to retired CBN staff.
It also invited pension administrators, regulators and representatives of affected pensioners to explain and submit documentary evidence on the allegations.
The Green Chamber mandated its Committee on Pension to investigate alleged non-compliance with contractual agreements on administration and payment of pension benefits to CBN retirees.
The resolution followed adoption of a motion titled “Need to Investigate CBN for Alleged Breach of Approved Pension Agreements, Non-Implementation of Harmonisation Policy and Exclusion of Pensioners from General Pension Increase” sponsored by Hon. Hussaini Mohammed Jallo and adopted at plenary on Tuesday.
Moving the motion, Jallo said payment failures on pensions and retirement entitlements are causing severe hardship among affected pensioners.
He expressed concern over alleged non-compliance with contractual agreements affecting entitlements and welfare of retired CBN employees.
Jallo warned that alleged non-implementation and faulty execution of harmonisation policy may have created disparities in benefits and accumulation of unpaid arrears, denying pensioners their rightful entitlements.
He also raised concerns that some pensioners were excluded from general pension increases on basis of additional or extra-statutory demands that may not align with laws, binding agreements or approved pension policies.
He noted CBN pensioners have declined from 5,104 in 2011 to about 3,000 today, a loss of over 2,100 persons, averaging 140 deaths per year, a rate likely accelerating as survivors age.
The House urged CBN and relevant authorities to verify and pay all outstanding arrears lawfully due within a reasonable and clearly defined period, and extend applicable general pension increases to eligible pensioners.
It also directed the Committee on Pension to investigate non-implementation of harmonisation policy, including its approval, reasons for delay, amount of outstanding arrears, and exclusion of eligible pensioners from general increases.