FG Approves N758bn Bonds to Clear Pension Liabilities and Increase Payments

The Federal Government of Nigeria has approved N758 billion in bonds to settle pension gratuities and arrears, aiming to alleviate the burden on vulnerable pensioners. The National Pension Commission (PenCom) organized workshops to educate contributors to the pension scheme and enhance awareness.

The initiative includes increasing monthly payments for retirees and eliminating delays in pension disbursements. The reforms seek to improve post-retirement benefits and welfare for pensioners, ensuring financial security and reducing poverty.