By Correspondent in Abuja.
(C) Google.
The Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) has applauded the Federal Government’s approval of ₦758 billion to offset long-standing pension liabilities owed to retirees under the Contributory Pension Scheme (CPS).
The commendation came from the National Chairman of NUPCPS, Comrade Sylva Nwaiwu, and the National Secretary, Comrade Bisan John in a statement they signed and a copy available to The Reporters on Thursday.
The Union also praised President Bola Ahmed Tinubu, the President of the Senate, Senator Godswill Akpabio, and members of the National Assembly for their roles in facilitating the approval.
Our correspondent recalls that the Senate passed the Federal Executive Council’s approval for the ₦758 billion pension settlement on Tuesday, July 22, 2025 at the National Assembly in Abuja, with national implications for CPS retirees across the country.
The approved funds will settle pension arrears that have accumulated since the inception of the CPS in 2004, affecting thousands of retired public sector workers.
The Union described this as a “milestone in restoring the dignity and welfare of Nigerian pensioners.”
NUPCPS called on key government agencies,the Federal Ministry of Finance, the Debt Management Office (DMO), and the Office of the Accountant General of the Federation (OAGF),to expedite the release of the funds.
They also urged the National Pension Commission (PenCom) to intensify its oversight and ensure the timely disbursement of the approved funds.
The Union expressed gratitude to the Nigerian media for consistently advocating for the welfare of retirees, pointing out that the ₦758 billion bond approval was a fulfillment of the Federal Government’s Renewed Hope Agenda, aimed at alleviating the suffering of CPS pensioners.
Edited by Dada Ahmed.
