The Office of the Accountant General of the Federation (OAGF), has released N22 billion to partially settle unpaid accrued pension rights for retirees of Federal Government Treasury-funded Ministries, Departments, and Agencies (MDAs) under the Contributory Pension Scheme, CPS. According to the National Pension Commission (PenCom), the payment is part of the 2024 Appropriation for the period July to September. In …

Federal Pensioners under the Contributory Pension Scheme have written to the Coordinating Minister of Finance and National Economy, Wale Edun, to demand the implementation of the earlier announced N32,000 increment in pension. The N32,000 increment for pensioners was announced shortly after the announcement of the N70,000 minimum wage for workers. The pensioners, who had earlier staged a peaceful rally at …

Following the consequential adjustment in salary structures by the committee set up by the government to review the new minimum wage, retirees will now receive an increment of N32,000 in their monthly pensions. This was revealed in a memo by the National Salaries, Wages, and Income Commission, sighted on Monday by The PUNCH. According to the memo, dated 27 September …

The Federal Government is set to spend N3 trillion on the new minimum wage and the payment of pensions and gratuities, according to Saturday PUNCH. The Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Friday during a meeting with the Senate Committee on Appropriations, chaired by Olamilekan Adeola. The minister presented the general principles of the newly …

Governor Babajide Sanwo-Olu of Lagos State has cautioned retirees against donating their pension to churches and mosques in the name of thanksgiving or tithe. Sanwo-Olu said retirees should use their pension to solve their family problems. He gave the caution during the 105 batch of retirement bond certificate presentation ceremony to retirees in the state yesterday. The governor said the …

The age-long wish of the Nigeria Police Force (NPF), to have an exclusive pension board like the military got a boost on Thursday in the Senate with the passage of a bill to that effect for second reading. The passage of the bill titled “Police Pension Board (Establishment) Bill” by the Senate for a second reading was sequel to the …

The Federal Government has ordered the computation of accrued pension of serving federal civil servants, according to The PUNCH. A memo by the Office of the Head of Civil Service of the Federation, which was obtained by our correspondent on Tuesday in Abuja, said the move was in collaboration with the Ministry of Finance and will focus on employees who …

The Federal Government has clarified that it has no plan to illegally access the savings and pensions of Nigerian workers to fund infrastructure projects. The Minister of Finance and Coordinator of the Economy, Wale Edun, disclosed this on Thursday in response to the reservations of former Vice President Atiku Abubakar on government’s plan to rev up investment in the critical …

Former President Olusegun Obasanjo has described the payment of pension to former governors and their deputies as outrageous and a daylight robbery, just as he commended Governor Alex Otti of Abia State for repealing the law backing pension payment for ex-governors and their deputies. Obasanjo spoke on Friday when he paid Otti a visit at his country home in Nvosi, …

Abia Governor Alex Otti has assented to the Abia Governors and Deputy Governors Pension Repeal Law of 2024 passed by the Assembly. The Governor who explained that the Bill is an Executive Bill, thanked the Assembly for expeditiously passing it. He said that it was his belief from the onset that the government was not going to continue with the practice of …