Pensioners ask n’assembly to approve N758bn bond for arrears clearance

Sylva Nwaiwu, national chairman of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), has urged the national assembly to approve the N758 billion treasury bond.

Speaking during the union’s national conference in Abuja on Tuesday, Nwaiwu commended President Bola Tinubu for the approval of the N758 billion treasury bond by the federal executive council (FEC) in February.

He said it was to settle outstanding liabilities owed to retirees under the contributory pension scheme (CPS).

“The leadership of this union believes that the bond approval is a necessary fiscal decision to settle outstanding government liabilities to CPS retirees,” the chairman said.

“It is also a demonstration of humanity, fiscal responsibility and moral obligation by the president, which should be commended and collaborated by the senate.”

He lamented that while many retirees had celebrated the presidential approval, several had died waiting for the bond to be implemented.

“It has become imperative for us to draw the attention of the federal government to this and appeal for an early implementation of the bond for the payments of CPS retirees,” Nwaiwu said.

“This is to avoid further fatalities in this sector arising from high blood pressure as a result of tensions of long expectations of entitlements.

“When that is done, we shall organise a mega solidarity party to celebrate the president’s administration, which will hold across the country.”

‘PENSIONERS ARE LEGACIES NOT LIABILITIES’

In his remarks, George Akume, secretary to the government of the federation (SGF), described Tinubu’s administration as “a demonstration of humanity, fiscal responsibility and moral obligation”.

Akume, represented by Nadungu Gagare, permanent secretary, political and economic affairs office of the SGF, said the administration remains committed to the welfare of Nigerians, including senior citizens.

“Pensioners are not to be pitied, they are to be honoured, they are not liabilities but they are legacies,” he said.

The SGF added that the federal government had taken significant steps in addressing challenges in the pension system, including the approval of fiscal measures to offset accrued liabilities.

He said the government is committed to enhancing oversight and accountability in the pension sector, while also deepening engagement with stakeholders to guarantee the timely and transparent payment of retirement benefits.

“While we acknowledge that much has been done, we are equally aware that more remains to be done,” he said.

“It may interest you to know that issues regarding the early implementation of approved fiscal interventions are receiving active attention.

“I assure you that the President remains committed to seeing through reforms that will provide sustainable, transparent and fair treatment to all pensioners especially those under CPS.”

Akume urged the union to maintain its engagement with the government through meaningful dialogue, evidence-based advocacy, and collaboration.

Also speaking, Patience Oniha, director-general (DG) of the Debt Management Office (DMO), said the bond would be immediately implemented once the national assembly grants the required approval.

Oniha, represented by Abubakar Kulo, director of organisational resourcing at DMO, assured retirees that the delay would soon end.

“We are ready to work on the bond as soon as the national assembly approves it. We will commence the issuance of the bonds as soon as the approval is given,” she said.

On May 27, Tinubu wrote to the senate, seeking approval to issue federal government bonds worth N757.9 billion to settle outstanding pension liabilities under the CPS.