FG Releases N470bn for Outstanding Pension

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  • FG Releases N470bn for Outstanding Pension

The Nigeria Union of Pensioners (NUP) has commended the Federal Government for the release of about of he sum of N740 billion for the settlement of outstanding pension liabilities and promotion arrears of federal workers across the country.

The union also asked its members nationwide to take advantage of of the current voter registration exercise and equip themselves with voters card to enable them vote out politicians who have displayed anti-worker and anti pensioners tendencies during the 2019 elections.

In a statement signed by the General Secretary, Actor Zal and made available to newsmen in Abuja, the union said the Pension Transitional Arrangement Directorate (PTAD)) has also assured that all pension arrears will soon be liquidated by the government and appealed to its members nationwide to exercise a little more patience, as the government is ready to facilitate the payment of all entitlements in due course through the treasury bills and bonds.

According to the statement, payments of the arrears of 33% pension increase, (18 months for civilian pensioners and 39 months for police pensioners) as well as the backlog of arrears of gratuities that were owed pensioners since 2001 shall also be liquidated.

The statement added that “PTAD will equally commence the verification of pensioners from the South West and North Central zones within few weeks from now. The dates and venues of the exercise will be announced as soon as funds are released through print and electronic media by PTAD accordingly.”

It said that the union was appreciative “of the efforts of the Chairman House Committee on Pension, Hon. Hassan Shekarau and the Executive Secretary of PTAD, Bar. (Mrs) Sharon Ikeazor for their frantic and unshakeable efforts in this regard. We call on them and all other well-meaning Nigerians, to join hands with the federal government to ensure that this payment is done without further delay so as to assuage the pains and sufferings of our senior citizens who had worked selflessly for a greater and indivisible Nigeria.

“May we equally use this medium to direct all our members from the States, LGAs and parastatals across the country to take advantage of the on-going voters registration exercise towards equipping themselves with voters cards in readiness for the 2019 general election so as to cast their votes for and against those who have been treating them fairly and those who have been treating them with disdain and levity respectively.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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