House of Representatives Investigates CBN Pension Issues

The House of Representatives has ordered an investigation into the Central Bank of Nigeria (CBN) regarding alleged non-compliance with pension obligations to retired employees. This resolution mandates the Committee on Pensions to invite the CBN governor and relevant officials, along with pension administrators and representatives of affected pensioners, to provide explanations.

The committee will investigate the non-implementation of the Harmonization Policy, including its approval circumstances, reasons for delays, and outstanding arrears owed to pensioners. Additionally, the committee will examine claims of eligible pensioners being excluded from general pension increases due to extra-statutory demands, assessing compliance with applicable laws and contractual obligations.

This investigation follows a motion by Hussaini Mohammed Jallo (Rep, Igab), who highlighted that the alleged faulty execution of the Harmonization Policy may have resulted in disparities in pension benefits and unpaid arrears.