Pensioners in the Federal Capital Territory have raised fresh concerns over the delay in the implementation of the N758 billion Treasury Bond meant to offset pension arrears, lamenting that the prolonged wait has left many in hunger, with some reportedly dying before receiving their entitlements.
The News Agency of Nigeria (NAN) reports that President Bola Tinubu, in February, approved the release of the bond following the recommendation of the Federal Executive Council. The National Assembly gave its nod for implementation on July 22.
The fund is intended to clear outstanding liabilities under the Contributory Pension Scheme.
Despite these approvals, payment is yet to begin — a situation pensioners describe as unbearable in the face of current economic hardship.
“We were happy when the President approved the payment, but we didn’t expect this long wait,” said Hajiya Amina Lawal, one of the affected retirees. “Our hopes were raised, but now some of us have died waiting. We are too old to be on the streets begging.”
The pensioners are calling for the immediate disbursement of the funds and a review of monthly pensions to reflect the high cost of living.
Mr. George Ose, another retiree, described his experience as heartbreaking. “My family is hungry. I can’t pay my children’s school fees, I’ve lost access to the National Health Insurance Scheme, and my landlord is threatening eviction,” he said. “If I knew I would suffer like this after years of service, I might not have given the country my best.”
Mrs. Joy Adewale, who retired alongside her husband in 2016 after 35 years of service, said they have been living on meagre stipends that cannot cover food, medication, or other basic needs.
After opening a small shop to support her family, it was later demolished during a government exercise.
“When the shop was taken down, I begged suppliers to allow me restock on credit, but they refused. Even my bank wouldn’t give me a loan because I’m a retiree,” she said. “Now it’s just God keeping us.
We plead with the government to pay us what we’ve worked for before we’re all gone.”
Another retiree, Mrs. Nkiru Offor, who left service in 2019, said her entitlements were paid in 2021, but the funds are barely sufficient for survival.
“My NHIS stopped immediately after retirement. I now pay for tests and drugs out-of-pocket,” she said. “Even enrolling in private NHIS is unaffordable, and I’ve been told my recent payments haven’t dropped, so I can’t access subsidised care.”
Mr. Evans Ubah also appealed for urgent intervention from the government. “I can’t feed myself. Look at my face — it’s hunger,” he said. “Every year they tell us pension assets have increased, yet retirees remain unpaid.
The constitution provides for periodic salary and pension reviews, but we see no change.”
The pensioners collectively urged the federal government to fast-track the release of the approved bond, warning that more lives could be lost if urgent action is not taken.