Retirees of Central Bank of Nigeria (CBN) don call on President Bola Ahmed Tinubu to urgently intervene over unpaid pensions, arrears and alleged maladministration wey don affect hundreds of former staff.
The pensioners complain say despite court judgments and several appeals to CBN management, issues concerning notional promotions, pension adjustments and outstanding arrears still remain unresolved, leaving many retirees for financial hardship.
Alleged Delay In Promotions, Arrears
According to representatives of the retirees, years ago the bank delay promotions of eligible staff. During 2002 and 2004 early-exit programmes, dem promise to promote qualified officers to next grade level, and many retire based on that assurance.
However, implementation reportedly delay until 2019, with arrears backdated only to July 2015 instead of respective retirement dates.
Dem claim say later early-exit beneficiaries receive full implementation, placing earlier retirees at disadvantage.
Supreme Court Judgment And Pension Disparity
The retirees also allege irregularities in pension adjustments following 2010 judgment of the Supreme Court of Nigeria.
According to dem, instead of adjusting pensions in line with increases granted to serving CBN staff, management align adjustments with rates from other establishments, creating disparities.
Dem say pensioners wey retire before May 2000 and after December 2006 begin earn more than those wey retire between those periods. Although corrections happen in July 2015, arrears for about four years of underpayment allegedly no pay.
2011 Exit Programme Controversy
The retirees further question pension calculations under 2011 early-exit scheme, saying gratuities base on final salary, but pensions pegged to 2009 salary scale, wiping out benefit of later promotions.
Dem also raise concern over “Settlement Agreement” introduced in January 2025 while appeal and contempt proceedings still dey pending, alleging say pension increases tie to acceptance of compliance terms.
Appeal To Tinubu
While acknowledging reforms by CBN Governor, Olayemi Michael Cardoso, especially in foreign exchange stability, the retirees insist say pension crisis still unresolved.
Dem also commend Attorney-General of the Federation, Lateef Olasunkanmi Fagbemi, for his efforts, but urge further action.
“We respectfully appeal to President Tinubu to prevail on CBN Governor to resolve these longstanding pension injustices and restore our rights, dignity and financial security. Justice delayed should no continue to be justice denied,” the retirees state.
Observers say the development add fresh spotlight to pension administration and welfare of retired public servants across Nigeria.
