Bank of Agriculture to Clear N257.18M Pension Arrears

The Managing Director of the Bank of Agriculture, Ayo Sotinrin, has expressed commitment to resolving the pension backlog for workers, which totals N257.18 million and has been outstanding for 53 months. During a joint meeting with representatives from the Nigeria Union of Pensioners and the Federal Parastatals Privat Sector Pension Association, Sotinrin acknowledged the patience of the pensioners despite the prolonged delays in payments.

He emphasized the bank's priority to settle these arrears by the end of the year. The pension increment approved by the National Salaries, Incomes and Wages Commission, which was effective from July 2010 to December 2014, had not been fully paid, leading to the current outstanding balance.

The meeting also included discussions on the need for immediate solutions to the long-standing arrears and the importance of maintaining constructive engagement with pensioners. Sotinrin expressed optimism that the new management would resolve these issues, with encouragement from the administration of President Bola Tinubu.