House of Reps summons CBN Governor over pension issues

The House of Representatives has resolved to invite Olayemi Cardoso, the Governor of the Central Bank of Nigeria, to explain alleged breaches of pension agreements and the non-payment of benefits to retired employees. This decision followed a motion moved by Hussaini Jallo, the member representing Igabi Federal Constituency of Kaduna State.

Jallo expressed concerns over non-compliance with pension agreements, which may have led to disparities in benefits and unpaid arrears, causing financial hardship for pensioners. He noted a decline in CBN pensioners from 5,104 in 2011 to approximately 3,000, indicating an average loss of 140 pensioners annually.

The motion received overwhelming support during a voice vote presided over by Speaker Tajudeen Abbas. The House urged the CBN to verify and pay all outstanding arrears to affected pensioners within a reasonable timeframe and to extend general pension increases to eligible pensioners.