The Federal Government has linked the payment of pensioners’ accrued rights under the Contributory Pension Scheme (CPS) to the availability of funds.
This was disclosed in a memo from the Office of the Accountant-General of the Federation (OAGF), signed by Musa Raheem, Director of Administration.
The memo revealed that allocations for January–March and April–June 2024 had been released to the National Pension Commission, with efforts underway to address further liabilities before year-end.
Despite these assurances, pensioners have expressed growing frustration. On November 12, 2024, they held a peaceful rally at the Ministry of Finance and wrote to Finance Minister Wale Edun, commending his approach to their concerns but lamenting unfulfilled promises.
They demand the immediate release of a 21-month pension backlog spanning March 2023 to November 2024 and unpaid pension increments, including a 15% raise in 2007, a 33% hike in 2010, and a 20–28% increase in 2024.
Threatening action, the pensioners plan to occupy the Ministry of Finance on December 16 unless their demands are met.
They also urged the government to declare a state of emergency in the CPS sector and clear all liabilities.
The pensioners’ union affirmed nationwide backing for their planned actions, vowing to persist until all grievances are addressed.
