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Akpabio-Natasha rift: Saraki calls for thorough investigation

FORMER Senate President, Abubakar Bukola Saraki, has called on the leadership of the Senate to institute a transparent and unbiased investigation into the ongoing dispute between Senate President Godswill Akpabio and Senator Natasha Akpoti-Uduaghan.

In a statement posted on his social media accounts on Saturday, Saraki emphasised that the credibility of the Senate as an institution is at stake and should be protected above individual interests.

He said, “I have watched from afar the recent development in the Senate between  Godswill Akpabio, and the Senator from Kogi Central, Natasha Akpoti-Uduaghan. It is a development that has made me sad because of its overall negative effect on the integrity, sanctity, image, and public perception of the institution.

“I believe that every person who has had anything to do with the National Assembly, particularly as a leader, member, and worker should always jealously protect these values which make the institution, an important one among the three arms of government.”

Saraki stressed that the allegations and counter-allegations between the two senators should not be allowed to damage the public perception of the Senate.

He urged all parties involved, including their supporters, to be mindful of their actions and ensure that due process is followed in resolving the issue.

“At this point, with the public claims made by the Senator, the right measure to take is to institute an open, transparent, and honest investigation by the Committee on Ethics, Privileges, and Public Petitions. Both parties must submit to the investigation, fully cooperate with the committee, and stake their claims before it,” he suggested.

“This is not the first time a Senate President would appear before the committee to aid it in the conduct of a transparent and open investigation.”

Citing his own experience as Senate President during the 8th Assembly, Saraki recalled how he voluntarily appeared before the Ethics Committee when accused of importing an official vehicle without paying customs duty.

According to him, the open and transparent manner in which the investigation was conducted cleared all doubts and upheld the Senate’s credibility.

“We should not allow the Senate to be cast in the shroud of an institution encouraging sexual harassment, gender bias, abuse of office, flagrant disregard for standing orders and rules, and lack of orderliness. This is what a transparent, open, and unbiased investigation should achieve.

“The due process should be followed in this case such that where anybody is found to have committed any wrong, it should be pointed out and corrected. Also, the right remedy should be made.”

Saraki maintained that the investigation should focus on uncovering the truth, ensuring accountability, and reinforcing the sanctity of the legislative body.

While refraining from taking sides, he made it clear that his primary concern was the protection of the Senate’s integrity.

“For me, the institution of the Senate is so important, sacred, and pre-eminent. All lovers of democracy should always work to strengthen it. No leader or member should be allowed to openly or surreptitiously work to subvert its sanctity.”

The ICIR reports that Akpoti-Uduaghan, while appearing on Arise TV on Friday, accused Akpabio of sexual harassment.

She alleged that the Senate President had, on two occasions, made sexual advances at her, claiming that the seating arrangement was part of a ploy to frustrate her legislative duties.

The Kogi lawmaker stated that her situation could be likened to a student failing an examination because she refused to sleep with her lecturer.

Reacting to the allegations through his media consultant, Kenny Okulogbo, Akpabio described the allegations against his principal as baseless and fictitious lies.

Alleged sexual harassment: I have concrete evidence against Akpabio- Natasha

The Senator representing Kogi Central Senatorial District, Natasha Akpoti-Uduaghan, has said she has concrete evidence to prove her allegation of sexual harassment against Senate President, Godswill Akpabio.

Natasha, who spoke through her lawyer, Victor Giwa, said this in response to the comment by Akpabio’s wife, Unoma.

Akpabio’s wife had in a briefing on Friday dismissed Natasha’s allegation of sexual harassment against her husband, describing him as a disciplined man.

However, in a reply on Saturday, Giwa asked her to stay out of the dispute to enable Akpabio defend himself as his client has “concrete evidence to substantiate her allegations.”

“You leave the defence of the allegations for the Senate President to maintain your sanity and that of your family,” he said.

He maintained that his client is a human and women rights activist, known for her defence, protection and advocacy for the protection of the rights of women in Nigeria.

“Our client is not desirous of calling you out into the unfortunate saga concerning her allegations against the senate president and wishes that you restrain yourself from delving into the obscene circumstances.

“While she has tolerated all the harassment from the senate president, she was constrained to reveal the unfortunate torture and victimisation which she has been going through in the red chambers under the hand of the senate president.

“Consequently, we would like to state that the allegations of our client are personal to the senate president, and our client believes the senate president has the capacity to defend himself and refute any of these allegations against him.

“Our client remains resolute to the defence of Nigerian women and as a family woman, she will continue to maintain our common heritage and family values.”

The ICIR reports that Akpoti-Uduaghan, while appearing on Arise TV on Friday, accused Akpabio of sexual harassment.

She alleged that the Senate President had, on two occasions, made sexual advances at her, claiming that the seating arrangement was part of a ploy to frustrate her legislative duties.

The Kogi lawmaker stated that her situation could be likened to a student failing an examination because she refused to sleep with her lecturer.

Reacting to the allegations through his media consultant, Kenny Okulogbo, Akpabio described the allegations against his principal as baseless and fictitious lies.

Meanwhile, the wife of Senate President Godswill Akpabio, has equally filed separate lawsuits against Senator Natasha Akpoti-Uduaghan at the Federal Capital Territory High Court, Abuja, alleging defamation and violation of fundamental human rights.

 

We’ll storm National Assembly if Tinubu fails to resolve Natasha, Akpabio rift, NANS threatens

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THE National Association of Nigerian Students (NANS), has threatened to storm the National Assembly if the President fails to intervene to resolve the rift between Senate President, Godswill Akpabio, and his fellow lawmaker, Natasha Akpoti-Uduaghan of Kogi Central.

According to a statement signed on Saturday in Abeokuta, Ogun State, NANS National Vice President, Sileola Akinbodunse, urged the President to mediate between the lawmakers to prevent the situation from escalating and causing international embarrassment to the country.

Akinbodunse appealed for peace, urging Akpabio and Akpoti-Uduaghan to put aside their differences.

“The National Assembly is a key organ of the government which should be occupied by exemplary and forthright representatives of the people.

“The face-off between Senators Natasha Akpoti-Uduaghan and  Godswill Akpabio should not be allowed to fester,” the statement read.

She further noted that if the allegation of sexual harassment against the Senate President is not properly handled, it could damage the country’s reputation globally.

Akinbodunse pointed out that while Akpoti-Uduaghan has not provided evidence to substantiate her claim, the matter should be investigated to determine its validity.

She added that NANS would be closely monitoring the situation, warning, “We will not hesitate to march to the National Assembly if the face-off is not resolved.”

The ICIR reports that Akpoti-Uduaghan, while appearing on Arise TV on Friday, accused Akpabio of sexual harassment.

She alleged that the Senate President had, on two occasions, made sexual advances at her, claiming that the seating arrangement was part of a ploy to frustrate her legislative duties.

The Kogi lawmaker stated that her situation could be likened to a student failing an examination because she refused to sleep with her lecturer.

Reacting to the allegations through his media consultant, Kenny Okulogbo, Akpabio described the allegations against his principal as baseless and fictitious lies.

Blaze rips through Lagos Medical Centre

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A midnight fire has razed a section of Ago Medical Centre on Ago Palace Way, Okota, Lagos State.

The fire, which started in the evening on Friday, destroyed a section of the one storey building which houses the hospital, it was gathered.

The Permanent Secretary, Lagos State Emergency Management Agency (LASEMA), Olufemi Damilola Oke-Osanyintolu, disclosed this in a statement issued early Saturday, March 1.

Oke-Osanyintolu said the agency activated its emergency response plan and deployed its response team from Oshodi after receiving distress calls via the 767/112 Emergency Toll-Free Lines at 6:29 p.m. on Friday.

“Upon arrival at 18.50hrs, LASEMA’s Eagle Response Team discovered that sections of a storey building which housed a hospital were being gutted by fire at the aforementioned address,” he said.

He added that preliminary investigations by the Eagle Response Team revealed that the fire was caused by a power surge that led to a spark when public electricity was restored.

“No lives were lost nor injuries recorded due to the incident,” Oke-Osanyintolu said.

He noted that the fire was being contained through collaborative efforts of the LASEMA Response Team Fire Unit and other responders, to prevent it from spreading to adjoining buildings in the area.

Emergency responders at the scene included the LASEMA Response Team, LASEMA Fire Unit, Lagos State Fire and Rescue Service, Lagos Neighbourhood and Security Corps, and the Nigeria Police Force.

Tinubu, Atiku, others preach peace, unity as Ramadan begins

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AS Muslims begin the sacred month of Ramadan, a period dedicated to fasting and prayers, President Bola Tinubu and others have called on Nigerians to embrace peace, unity, and selflessness.

The congratulatory messages came following the announcement of the moon sighting by the President of the Supreme Council of Islamic Affairs, Muhammad Sa’ad Abubakar III, on Friday, February 28.

In his message, Tinubu described the sacred month as a season of spiritual rejuvenation, self-discipline, and empathy for the less fortunate.

“I urge all Muslims observing the fast to embrace the profound lessons of piety, humility, and selflessness that this holy month embodies. Let us use this period to strengthen our bonds with Allah and one another, fostering unity and peace in our communities.”

“We are profoundly grateful to Almighty Allah for granting us the grace to witness the commencement of this holy month, a cornerstone of the Islamic faith. May this fasting and devotion period be marked by good health, spiritual fulfilment, and divine blessings,” he prayed.

He noted that Ramadan is a time for deep reflection, renewed devotion to Allah, and acts of compassion and generosity toward humanity, urging Nigerians to join hands in prayer and action for the country’s continued growth and development.

“Let us fervently seek Allah’s guidance and protection for our nation, and let our words and deeds reflect our shared commitment to peace, unity, and progress,” Tinubu said.

“I extend my heartfelt wishes to all Muslims observing Ramadan for a month filled with joy, peace, and spiritual renewal. May the blessings of this holy month illuminate our hearts and homes, and may we emerge from it as better individuals and a stronger nation,” the President stated.

Also, a former Vice President, Atiku Abubakar, in his message to the muslim faithful, said in marking the holy month of Ramadan, Muslims are once again reminded of their obligations to God and one another.

“It is important that in Ramadan, we extend our hands of charity and affection far beyond our immediate families. The lifestyle of noble Prophet Muhammed (SAW) should be our guide, as he taught us the immense benefits of being generous, especially during the month of Ramadan.

“I therefore urge that we remember Nigeria in our prayers and urge governments at all levels to provide the necessary succour that will ease the pains in the lives of Nigerians during the Ramadan fasting and beyond,” he said.

He added that governments needed to provide palliatives to support the people to alleviate their living conditions as Nigerians are passing through harsh economic situations at this time.

The Director-General of the National Orientation Agency (NOA), Lanre Issa-Onilu, called on Nigerian Muslims to pray for peace, unity and national development during the Ramadan.

Onilu made the call in a statement issued on Saturday, March 1, by the agency’s deputy director, media and communication, Paul Odenyi.

He encouraged Muslims to use the month of Ramadan for spiritual reflections, increased devotion and acts of charity that align with the teachings and tenets of Islam.

“For the development of the country, all citizens must pray for peace and unity irrespective of one’s religious and political affiliation. All Muslims should renew their commitment to Allah and embrace the spiritual opportunities that Ramadan signifies.

“This no doubt is a sacred period of reflection for self-renewal and the way to move humanity forward. As an Agency, we will continue to work for the greatness of our country,” Issa-Onilu said.

 

MTN reports N42 billion USSD indebtedness against Nigerian banks

MTN Nigeria Communications Plc has reported a N42 billion Unstructured Supplementary Service Data (USSD) service debt against the deposit money banks (DMBs) operating in Nigeria.

The telecommunications giant, which had been in a serious financial mess following the recent macroeconomic reality, revealed this in its 2024 audited financial statements.

The total USSD service debts directed by the Central Bank of Nigeria (CBN) and Nigerian Communications Commission (NCC) to banks to pay MTN amount to N74 billion, the report showed.

An analysis of the report shows that only a payment of N32 billion was received as of December 31, 2024, while the balance of N42 billion was recognised as debt in the review year.

“Thanks to our regulators’ intervention, the uncertainty around the outstanding USSD debt recovery has been resolved, enabling us to recognise approximately N74 billion in revenue.

“As of December 2024, approximately 34 per cent had been repaid, and the remaining balance was recognised as receivables, which are expected to be settled in 2025,” MTN Nigeria chief executive officer, Karl Toriola, said in a statement on Friday, February 28.

He hinted that the USSD revenue recognition helped the company to improve its service revenue by 35.9 per cent to N3.3 trillion.

The USSD debt obligation has been a concern to MTN and other telecommunications companies.

The ICIR can report that a USSD is a service that allows users to communicate with a mobile network operator’s computer in which a provider charges a fee for the transaction.

It is one of the tariffs the NCC recently hiked following mounted pressures from the telecommunications companies.

In October last year, Toriola had reacted that MTN would likely shut down its operation if the tariff did not increase.

His lamentation came on the backdrop of the company’s poor financial performance and negative equity balance.

“There should be no delusion; if the tariff doesn’t go up, we will shut down,” Toriola said, maintaining at the time that MTN might suspend the USSD banking services due to the N250 billion debt owed by Nigerian banks.

The ICIR has reported in many instances how mobile network operators had raised concerns over the USSD indebtedness by the banks and had sought regulatory approval to halt the support services until the debts were paid.

The operators have also sought for upward adjustment of tariffs to reflect the economic realities which was recently approved by a 50 per cent.

Meanwhile, a cursory look at the 2024 audited account shows that MTN Nigeria posted a loss after tax of N400.44 billion, which widened from N137.02 billion in 2023.

Its financial position shows a negative equity of N458.01 billion, which also widened from N40.84 billion.

A negative equity balance means that MTN Nigeria is in debt and may be unable to pay its creditors as its total liabilities of N4.65 trillion exceeded its total assets of N4.196 trillion as of December 2024.

Given the losses, which it blamed on currency devaluation and its impact on retained earnings, the company said its directors could not recommend a final dividend payment for its shareholders.

“As we navigate the uncertainties ahead, we will remain agile and responsive to emerging market trends and regulatory environments.

“We have made significant progress in our initiative to strengthen our capital position. This includes successfully renegotiating our tower contracts, obtaining approval for tariff adjustments, and making strides in reducing foreign exchange exposure. These will support margin recovery and put us on track to restoring our capital position,” Toriola added.

Has any Nigerian civil servant received new minimum wage?

An X user, @xagreat, has claimed that no civil servant in Nigeria has received the new national minimum wage since President Bola Ahmed Tinubu-led government made the promise in May 2024.

Recall that the Nigerian minister of State Labour, Nkeiruka Onyejeocha, had on behalf of the federal government disclosed this on May 1, 2024 while addressing Nigerian workers at the May Day celebration in Abuja.

The X post read:

“The New Minimum Wage Will Take Effect From Today, May 1, 2024 — Bola Ahmed Tinubu.
We are in February 2025, and no single civil servant has received the new minimum wage/consequential adjustment. Tinubu over promises and under delivers.

The post has generated over 300,000 views alongside over 1,800 reposts and more than 4,900 likes as of February 24, 2025.

CLAIM

No civil servant in Nigeria has received the new national minimum wage.

THE FINDINGS

Findings by The FactCheckHub show that the claim is FALSE.

Since Tinubu assumed office on May 29, 2023, Nigeria has faced significant economic challenges, including rising inflation and a high cost of living. These issues were exacerbated by economic reforms such as the removal of fuel subsidy and currency devaluation.

Screenshot of the viral post on X. INSERT: FALSE verdict.

In response to widespread protests and industrial actions led by labour unions, the government engaged in negotiations to address workers’ demands for better wages. By July 2024, an agreement was reached to increase the national minimum wage to ₦70,000, with a provision for review every three years. This was aimed at alleviating economic hardship and restoring stability in the economy.

In September 2024, PUNCH reported that the Nigerian government had begun paying the new national minimum wage and its consequential adjustments to public servants across all levels of the federal civil service.

The report stated that a warrant for the month’s salary, signed by the Accountant-General of the Federation, Oluwatoyin Madein, and addressed to the Budget Office, directed the commencement of the new payment.

A breakdown of the new salary structure showed that officers from level one to level seven now earn between ₦930,000 and ₦1,277,667 per annum.

The report quoted sources, including the Director of Press at the Office of the Accountant-General, organized labour groups (Nigeria Labour Congress and Trade Union Congress), and several civil servants, confirming the implementation of the new wage.

Ramat Soliu, a staff member of the National Open University of Nigeria (NOUN), confirmed to The FactCheckHub that workers in her agency had started receiving the new minimum wage but expressed disappointment over the low consequential adjustment.

Olumide Dada, an employee of the National Institute for Cultural Orientation (NICO) – an agency under the Federal Ministry of Art, Culture, Creative Economy, and Tourism, also confirmed that workers in the agency have started receiving the new minimum wage.

“We received the minimum wage consequential adjustment, which amounted to a ₦40,000 flat rate from our September 2024 salary. The arrears for August were paid with our December salary. The only arrears we are still expecting from the federal government are the wage awards for April, May, June, and July 2024,” he said.

However, Agbaje Francis, a civil servant with the Federal Ministry of Education, told The FactCheckHub that he alongside some of his colleagues are yet to receive the new minimum wage due to a system error.

“We are yet to be paid the minimum wage. The reason given for the non-payment was a system error,” he said.

Further checks show that the Nigerian government made selective payments to some federal workers in September 2024, a Vanguard report stated. But the federal government later in December 2024 reassured workers that many Nigerian states will implement the new national minimum wage from January 2025.

A PUNCH editorial confirmed that 22 Nigerian states are already implementing the new minimum wage for workers in their respective state civil services as of December 2024. Also, a Dataphyte infographic published on January 30, 2025 corroborated the PUNCH report.

However, though the FCT minister, Nyesom Wike, had approved the payment of N70,000 new national minimum wage for all workers in the Federal Capital Territory Administration (FCTA) since November 2024, teachers and local government workers in the nation’s capital city had embarked on industrial actions first in December 2024 and also in February 2025 to demand payment of the new wage. The second strike was suspended last Friday, Daily Trust reported.

THE VERDICT

The claim that no civil servant in Nigeria has received the new national minimum wage is FALSE. Multiple federal workers confirmed to The FactCheckHub that they have been receiving the new minimum wage since September 2024; some media reports also confirmed that federal workers have started receiving the minimum wage since last year while some state governments are yet to implement the new minimum wage scheme.

This report is republished from the FactCheckHub.

Akpabio’s wife slams N250bn libel suits against Senator Natasha

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UNOMA Akpabio, wife of Senate President Godswill Akpabio, has filed separate lawsuits against Senator Natasha Akpoti-Uduaghan at the Federal Capital Territory High Court, Abuja, alleging defamation and violation of fundamental human rights.

The legal action stems from Akpoti-Uduaghan’s recent claims that her troubles in the Senate began after she refused to have a sexual relationship with the Senate President.

In the first suit on fundamental rights violation (Suit No: CV/814/25), Unoma accused the senator of making false and scandalous statements that caused her and her children emotional distress and fear for their safety.

She asked the court to declare the statements a violation of her right to dignity under the Nigerian Constitution and the African Charter on Human and Peoples’ Rights.

Additionally, she is seeking ₦250 billion in damages and a perpetual injunction restraining Akpoti-Uduaghan from making further such claims.

In a separate defamation suit (Suit No: CV/816/25), Unoma challenged Akpoti-Uduaghan’s assertion that her husband made sexual advances towards her. She described the allegations as false, malicious, and damaging, stating they had tarnished her family’s reputation and subjected them to public ridicule.

As part of her demands, she requested the court to compel Akpoti-Uduaghan to issue a public apology in The Guardian and Thisday newspapers and pay ₦1 billion in damages.

“The allegations have caused untold pain and emotional trauma to me and my family,” Unoma Akpabio stated in the suit.

The court has yet to fix a date for the hearing of both cases.

The ICIR reports that the dispute between the two lawmakers began after Akpoti-Uduaghan discovered her Senate seating position had been changed without prior notice.

In response, she filed a ₦100 billion defamation lawsuit against Akpabio and his senior legislative aide, Mfon Patrick. Her lawyer, Victor Giwa, claimed that a defamatory statement about her was published on Patrick’s Facebook page under the title ‘Is Local Content Committee of the Senate Natasha’s Birthright?’

The post accused Akpoti-Uduaghan of reducing senatorial duties to fashion choices, alleging that she was more concerned with makeup and transparent outfits in the chamber.

Giwa described the post as provocative and damaging, arguing that it had lowered his client’s reputation among colleagues and the public.

The controversy escalated on Friday, February 28, when Akpoti-Uduaghan appeared on Arise Television’s Morning Show and accused Akpabio of sexually harassing her. She claimed some colleagues had advised her to accept the seat change as part of a larger scheme against her.

Meanwhile, Akpabio’s wife has denied the allegations, calling them false and baseless.

“My husband is a disciplined man who respects women,” she said.

Trump attacks Zelensky, sends him out of White House

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THE President of the United States (US), Donald Trump, has accused his Ukrainian counterpart, Volodymyr Zelensky, of gambling with World War III.

While hosting Zelensky at the White House on Friday, Saturday, 28, Trump accused the Ukrainian president of showing no interest in ending his country’s war with Russia.

Zelenskiy had sought to use the White House meeting to persuade Trump not to align with Russian President Vladimir Putin, who launched a high-devastating war on Ukraine three years ago.

He was also to sign a US-Ukrainian pact that would allow the US to have access to Ukraine’s mineral resources as part of a US-brokered post-war recovery plan.

However, the atmosphere became tense as Trump and his vice, James David Vance, clashed with Zelensky, accusing him of lacking gratitude for US support during the three-year war against Russia’s invasion.

Trump, who had sided with Putin since taking over as president, berated Zelensky, telling him to be more ‘thankful’ and that without US support, Ukraine would have been conquered by Russia.

“People are dying, you’re running low on soldiers,” he scowled as he threatened to withdraw U.S. support from Ukraine.

“You’re either going to make a deal or we’re out,” Trump further yelled at his guest.

He dropped yet another blistering remark, “And if we’re out, you’ll fight it out and I don’t think it’s going to be pretty. Once we sign that deal, you’re in a much better position. But you’re not acting at all thankful, and that’s not a nice thing.”

Vance, who had been strongly opposed to US support to Ukraine before his elevation from a senator to the presidency, emphasised the importance of diplomacy in resolving Europe’s largest conflict since World War II.

Vance, whose mien and comments during the meeting fueled the crisis, maintained the US stance against Ukraine continuing with the war.

However, Zelenskiy, with his arms folded, argued that Putin could not be trusted in any negotiations and pointed out that Vance had never visited Ukraine.

Trump would not take any of his arguments. “You’re not in a good position. You don’t have the cards right now. With us, you start having cards,” the US leader said.

“I’m not playing cards, I’m very serious, Mr. President,” Zelenskiy retorted.

“You’re playing cards. You’re gambling with the lives of millions of people, you’re gambling with World War III,” exasperated Trump fired back.

Come back when you’re ready for peace, Trump tells Zelenskiy

While Zelenskiy openly challenged Trump over his softer approach toward Putin, urging him to make no compromises with a ‘killer’, Trump insisted that Putin was willing to negotiate a deal.

However, Vance accused Zelenskiy of being disrespectful by coming to the Oval Office to argue his position.

He slammed Zelenskiy for not appreciating Americans for the support he received during the war.

Zelenskiy countered him. He said, “I said a lot of times thank you to the American people.”

Zelenskiy, who received billions of dollars in U.S. weapons and moral support from the former President Joe Biden administration in Ukraine’s fight against Russia, is now facing a different approach from Trump.

The new president aims to quickly end the three-year war, rebuild ties with Russia, and recover funds spent on supporting Ukraine, among other drastic policies he has initiated.

Trump’s team at the meeting resolved during a break to send Zelenskiy and his delegation away.

A Trump official delivered the message, resulting in the Ukrainian leader cancelling his other schedules in the US, including a joint press briefing with Trump.

The planned agreement was also not signed. Similarly, the meals prepared for the parties were left untouched.

The ICIR reports that the development puts efforts by French President Emmanuel Macron and other European Union leaders to broker peace between Ukraine and Russia in limbo.

CNN reported that never before had a US president addressed his visitor in the manner Trump ‘humiliated’ Zelensky.

Trump consequently took to his Truth Social platform to accuse Zelensky of disrespecting the United States.

“I have determined that President Zelenskyy is not ready for Peace if America is involved. He can come back when he is ready for peace,” he wrote.

Trump has engaged in a cold war with Zelenskiy in recent weeks, criticising his handling of the war, and calling him a ‘dictator’.

 

Relief as Nigerian Government approves N758bn bond to settle pension backlogs

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THE Federal Government has approved a N758 billion pension bond to settle all outstanding liabilities under the contributory pension scheme.

Bond issuance is a way a company or a nation raises money as a loan repayable on agreed interest terms to sort out some budgetary or financial burden.

The government also said the bond would be released within three months to fully settle all outstanding pension liabilities under the contributory pension scheme (CPS).

This was revealed at a press conference in Abuja on Thursday, February 27, by the Director-General of the National Pension Commission(Pencom), Omolola Oloworaran.

She described the bond as a significant intervention by President Bola Tinubu, making it the first time the Federal Government was making a direct contribution to the Pension Protection Fund (PPF).

“A defining milestone in our nation’s pension administration has been achieved through the approval of a N758 billion Federal Government of Nigeria bond to fully settle outstanding pension liabilities under the Contributory Pension Scheme,” said the director-general.

She added that N107 billion from the bond had been allocated to the pension protection fund, designed to provide financial relief to low-income pensioners who might not have saved enough to support themselves in retirement.

According to the director-general, the N758 billion bond would also clear long-standing arrears, including N253 billion for accrued pension rights owed to retirees from treasury-funded ministries, departments, and agencies (MDAs).

She also disclosed that N388 billion had been earmarked to settle unpaid pension increases dating back to 2007, which would benefit over 250,000 retirees.

Oloworaran explained that N11 billion was set aside to address pension shortfalls for university professors, ensuring that eligible retirees in the academic sector receive their full salaries upon retirement in line with pension reforms.

“N388 billion has been provided to clear pension increases that have remained unpaid for nearly two decades. This long-overdue entitlement, benefiting over 250,000 retirees, reflects the administration’s commitment to ensuring pensions remain fair and responsive to economic realities,” she added.

She noted that the commission would focus on expanding the micro pension plan, aimed at providing structured retirement savings for workers in the informal sector since the backlog has been addressed.

She assured that PenCom would work with all relevant stakeholders to ensure the smooth issuance of the bond and prompt disbursement of pension payments.

The ICIR reported that the Federal Government announced plans to begin addressing the pension backlog for retired workers under the Contributory Pension Scheme (CPS) starting on November 17, 2024.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during a rally organised by the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) at the Federal Ministry of Finance in Abuja on Tuesday, November 12, 2024.