Pensioners Urge National Assembly to Approve N758 Billion Bond for Arrears Settlement
Pensioners under Nigeria’s Contributory Pension Scheme (CPS) are urging the National Assembly to swiftly approve and release the N758 billion Treasury bond allocated to settle long-overdue retirement benefits, with some arrears dating back over 16 years.
The bond, which received presidential assent in February 2025 during a Federal Executive Council (FEC) meeting chaired by President Bola Tinubu, was proposed to address long-standing liabilities owed to federal retirees. However, delays in legislative approval have left many pensioners in continued financial distress.
Speaking on behalf of the affected retirees, the Chairman, Nigerian Union of Pensioners Contributory Pension Scheme Sector
Mr. Sylva Nwaiwu expressed disappointment over the slow pace of implementation. “Many of our colleagues celebrated the bond’s approval but have sadly passed on without receiving a kobo. This delay is not just financial—it’s costing lives,” he stated.
Nwaiwu further emphasized that the union is prepared to organise a nationwide appreciation rally in honour of President Tinubu, should the National Assembly fast-track the process and ensure timely disbursement.
He added that further delay could lead to more preventable deaths among elderly pensioners already battling health complications linked to stress and hardship.
