CBN Retirees Plead with President Tinubu: End Years of Unpaid Pension Arrears and Restore Our Dignity"

 

A group of retired Central Bank of Nigeria (CBN) staff has made an emotional appeal to President Bola Ahmed Tinubu, urging him to personally intervene in the protracted crisis of unpaid pension arrears and entitlements that have left many in severe hardship.

The retirees, who dedicated decades to the nation's apex bank, claim the CBN has failed to honor commitments from notional promotions agreed upon during major restructuring exercises in 2002 and 2004. These arrears, they say, represent rightful adjustments to pensions that should have reflected career advancements and salary reviews at the time.

Compounding the frustration is a "Settlement Agreement" reportedly introduced in January 2025, which the group views as inadequate amid ongoing legal battles—including contempt proceedings and an appeal initiated by the CBN. Retirees argue that these delays have persisted despite court orders and promises, pushing many into poverty, ill health, and despair in their twilight years.

"We served Nigeria with integrity through the Central Bank, yet we are now abandoned in our old age," one retiree representative lamented in recent statements. "We appeal to Mr. President, as the father of the nation, to wade into this matter and direct the necessary actions to clear these arrears once and for all."

This plea comes against a backdrop of wider pension woes across Nigeria. In recent weeks, contributory pensioners in Osun State staged protests calling for Tinubu's mediation in local government funding disputes that have delayed entitlements spanning up to nine years. Similar grievances have surfaced from retirees of defunct entities like NITEL/MTEL and Power Holding Company, highlighting systemic challenges in pension administration under both defined benefit and contributory schemes.

President Tinubu has previously demonstrated commitment to pension reforms, including approvals for arrears clearance and pension increases in 2025. Retirees hope his intervention could expedite resolution at the CBN and set a precedent for addressing similar cases nationwide.

Stakeholders, including pension unions and civil society groups, have echoed the call, emphasizing that timely pension payments are not just financial obligations but a matter of social justice and national honor for those who built Nigeria's institutions.

As economic pressures mount, the retirees' appeal underscores the urgent need for decisive leadership to safeguard the welfare of Nigeria's senior citizens.