•Raise alarm over 2,100 drop in pensioners, amid unpaid entitlements
By Victor Ahiuma-Young
The House of Representatives has given the Central Bank of Nigeria, CBN, four weeks to explain alleged breaches of pension agreements, failure to implement the Harmonisation Policy and the exclusion of eligible retirees from general pension increases.
The resolution followed a motion sponsored by Hussaini Mohammed Jallo, who raised concerns over the alleged hardship confronting former CBN employees as a result of unpaid pension arrears, disparities in retirement benefits and the non-implementation of approved pension policies.
The House expressed particular concern over the reported decline in the number of CBN pensioners from 5,104 in 2011 to approximately 3,000 currently, representing a reduction of more than 2,100 pensioners.
According to the lawmakers, the decline represents an average reduction of about 140 pensioners annually, a situation they said could worsen as the surviving retirees advance in age.
The motion warned that “prolonged delays in pension payments can expose elderly and vulnerable retirees to poverty, ill health and avoidable loss of life.”
Lawmakers also expressed concern that alleged non-compliance with contractual agreements and the faulty implementation of the Harmonisation Policy may have resulted in disparities in pension benefits and accumulated arrears, leaving affected retirees without their lawful entitlements.
The House further noted allegations that some pensioners had been excluded from general pension increases on the basis of additional or extra-statutory demands that might not be consistent with applicable laws, binding agreements or approved pension policies.
Emphasising the need to protect the welfare of retired workers, the lawmakers declared that “pensioners who have served the nation deserve fairness, transparency, and the timely or promptly payment of all benefits lawfully due to them.”
Consequently, the House urged the CBN and other relevant authorities to verify and pay all outstanding arrears lawfully due to affected pensioners within a reasonable and clearly defined period.
It also recommended the extension of applicable general pension increases to all eligible retirees in accordance with relevant laws.
As part of its oversighmeasures, the House resolved to invite the CBN Governor and other relevant officials, pension administrators, regulators and representatives of affected pensioners to appear before the appropriate legislative authorities to explain the situation and submit relevant documentary evidence
The Committee on Pension was also mandated to investigate alleged non-compliance with contractual agreements by the apex bank concerning the administration and payment of pension benefits to its retired employees.
Specifically, the committee is expected to establish the circumstances surrounding the approval and implementation of the Harmonisation Policy, determine the reasons for any delays, ascertain the amount of outstanding arrears and assess the consequences for affected pensioners.
It will equally investigate the alleged exclusion of eligible retirees from general pension increases based on extra-statutory demands and determine whether such actions comply with applicable laws, contractual obligations and approved pension policies.
The investigation will involve examining relevant contractual agreements, policy circulars, pension payment records and actuarial reports to establish responsibility for any administrative failures or breaches.
The House further directed the committee to recommend appropriate corrective measures, particularly the non-discriminatory extension of applicable general pension increases to all eligible pensioners in strict accordance with existing laws and approved policies.
The committee is expected to submit its report within four weeks for further legislative action.
The proposed investigation is expected to establish the facts surrounding the allegations and determine the appropriate steps required to address any established breaches and ensure that eligible former CBN employees receive their lawful retirement benefits.
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