Pensioners Task FMBN On Remittance Of Entitlements

The Nigerian Union of
Pensioners (NUP) has tasked the management of Federal Mortgage Bank of Nigeria (FMBN) on the bank’s alleged failure to remit their entitlements in the past five years.
A statement by its National President, Comrade Aboderin  Afolayan, said that FMBN was allegedly withholding the entitlement due to be paid the pensioners under the reviewed pension regime in 2009/2010 which stipulated a 25 per cent increase.
Afolayan said that by the circular number SWC/S/04/S.542/26 of Septemeber 26, 2004 signed by the then chairman, National Salaries, Incomes and Wages Commission, R.O.Egbule, stated that “The President and Commander-in-Chief of the Armed Forces has approved an increase in the pension scheme as a result of the salary increase of 53.37 per cent in the Federal Public Service.
He further explained that the circular eventually effected the new pension payment regime to the pensioners which the management of FMBN is yet to effect  the payment as due the presioners.
The union boss appealed to the Federal Government to urgently intervene in the matter and save members of the union from untold hardship experienced due to the failure of FMBN to remit their pensions.
The NUP president bemoaned the delay in pensioners monthly payment, adding that arrears for March were yet to be paid till now and solicited the quick intervention of the relevant government authorities to avoid industrial disharmony.

Philip Okparaji