Retirees Demand N32,000 Pension in Lagos Protest

On Wednesday, retirees from the defunct Arab Bank and Assur Bank staged a protest in Lagos, demanding their pension benefits be increased to N32,000 per month. The demonstration, which took place at the old secretariat within Tafawa Balewa Square, involved around 1,020 affected staff nationwide.

They accused regulatory authorities of neglecting their plight, which has pushed many into acute poverty. Despite a 20-year dispute regarding the bank's liquidation, retirees currently receive less than N10,000 monthly, significantly below the national approved minimum pension.

Protesters, including Mr. Idowu Oshikoya and Mr. Bola Olaniyan, expressed frustration over the lack of clarity regarding the bank's assets and the bureaucratic delays in addressing their grievances. They vowed to continue their protests until their demands for a legal adjustment to the N32,000 threshold are met, highlighting the dire conditions they face after years of service.