Business
NPA Pensioners Demand Arrears Payment
Pensioners yesterday
urged the management of the organisation to pay the arrears of their pension.
The National Chairman of NPA Pensioners, Mr Charles Binitie, made the plea during the Liberation Day Celebration organised by the pensioners in Lagos.
“We pray that the Managing Director, Malam Habib Abdullahi and his team that have started the payment of the monthly pensions and the January to June 2014 pension arrears will continue after May 2015.
“We urge them to continue with other outstanding pension arrears in like manner until the payment terminates.
“We also pray that you revisit the case of our young and talented technical trainees who have completed their training and consider them for re-absorption.
“They are still very young and the NPA has spent so much on them. So, on humanitarian ground, their training can still be useful to the authority,” Binitie said.
He commended the media for its effort in ensuring that the Federal Government and the management of NPA listened and addressed the issue of the payment of their pension arrears.
Binitie urged the management of NPA to expedite action on payment of their arrears based on the agreed period of three years.
“Whatever we are asking for now is very little, but by the grace of God, it will be completed.
“In the first instance, we are appreciating you. We did not buy your conscience; we did not give you money but you stood by your own oath to always come out with the truth.
“First, we wanted to be put on pension payroll, which was our normal right and that has been granted.
“Secondly, there is what is called 10 per cent compensation for premature retirement; we asked for it and it has been given to us.”
According to him, what is left now is the arrears after the completion of the five years guaranteed pension till the date the pension was approved.
“Management has approved it in principle but we are waiting for the implementation, which we know will be done soon.
“Part of the arrears, starting from January last year till June last year has been in implementation since December which will terminate in May this year.
“The arrears before the approval which they have also agreed to spread over three years period is what we are waiting for now.
“So, before the expiration of the six months arrears, we also urge the management to speed up action and start the payment of the outstanding arrears which have been approved,” Binitie said.
Mr Austin Adarighofua, a former member of the Senior Staff Association of the NPA, said the Liberation Day was being celebrated to mark their freedom from a pitiful condition to what they now rightly enjoy.
“We are celebrating the day because we are now enjoying what we were supposed to be enjoying; that which is due to us, and we will continue to enjoy it, God saving our lives,” he said.
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
