The House of Representatives has resolved to summon Central Bank of Nigeria (CBN) Governor Olayemi Cardoso over alleged pension agreement breaches and unpaid benefits owed to retired employees.
The decision followed adoption of a motion on Tuesday, November 3, sponsored by Hussaini Jallo, representing Igabi Federal Constituency of Kaduna State.
The motion, titled, “Need to investigate the Central Bank of Nigeria for alleged breach of approved pension agreements, non-implementation of harmonisation policy and exclusion of pensioners from general pension increases,” raised concerns about the bank’s alleged failure to honour retirees’ entitlements.
Jallo said failure to implement the harmonisation policy had created disparities in pension payments.
“The House is concerned that the alleged non-implementation and faulty execution of the harmonisation policy may have led to disparities in pension benefits and the accumulation of unpaid arrears, ultimately denying rightful entitlements and imposing severe financial hardship on affected pensioners who depend on these funds for their livelihood,” he said.
He questioned the exclusion of some pensioners from general increases.
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Jallo disclosed that CBN pensioners had fallen from 5,104 in 2011 to about 3,000, a decline exceeding 2,100. He warned payment delays could expose retirees to poverty, ill health and avoidable deaths.
“The House acknowledges the need for legislative oversight to establish the facts, determine the extent of any breaches or administrative failures, and ensure that all eligible pensioners receive their lawful entitlements,” he said.
The motion was adopted through a voice vote presided over by Speaker Tajudeen Abbas.
The House urged the CBN to verify and pay outstanding arrears within a defined period and extend applicable increases to eligible retirees.
It invited Cardoso, officials, pension administrators, regulators and pensioner representatives to appear for explanations and submission of relevant documentary evidence.
The House mandated its Committee on Pension to investigate the alleged breaches, review the harmonisation policy and recommend corrective measures.