ABUJA — Pensioners under Nigeria’s Contributory Pension Scheme (CPS) have made a passionate appeal to the National Assembly to expedite action on the full implementation of the N758 billion Treasury bond, earlier announced by the Federal Government to offset long-standing pension arrears.
The plea was made on Wednesday, June 26, 2025, during a public engagement in Abuja, where representatives of retiree associations expressed growing concern over delays in accessing the much-anticipated bond intervention. The fund, which was introduced as a measure to clear outstanding pension liabilities owed to federal government retirees who migrated from the Defined Benefit Scheme (DBS) to the CPS, has yet to be fully operationalised months after its announcement.
According to the pensioners, thousands of retirees who contributed to the nation’s workforce for decades are languishing in hardship due to irregular payments, unpaid entitlements, and systemic delays within the pension administration process.
“We welcomed the announcement of the N758 billion bond with great relief. However, the prolonged silence and inaction from the authorities have dashed our hopes once again. We are urging the National Assembly to intervene and approve the full release and disbursement without further delay,” one spokesperson said at the forum.
The Treasury bond, which was unveiled earlier this year by the Federal Government in collaboration with the National Pension Commission (PenCom) and the Debt Management Office (DMO), is designed to bridge the funding gap for accrued pension rights—especially for federal employees who retired between 2014 and 2023 but have not been fully settled.
Stakeholders say that while the bond provides a viable long-term funding instrument, its effectiveness depends entirely on timely legislative backing and fiscal release.
Several lawmakers in attendance at the session acknowledged the urgency of the matter and assured retirees that the issue would be prioritised in the ongoing appropriation discussions. They noted that clearing pension arrears is not only a constitutional obligation but also a matter of dignity, fairness, and national honour.
PenCom officials, meanwhile, reaffirmed their commitment to ensuring transparency in the disbursement process once funds are made available, urging pensioners to remain patient as consultations continue.
As Nigeria grapples with broader economic challenges, pension rights activists argue that the plight of retirees must not be overlooked, especially at a time when cost of living has risen sharply, putting pressure on already vulnerable populations.
