By Divine Sam
The House of Representatives has resolved to summon the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, over allegations of unpaid pension arrears, failure to honour approved pension agreements and the exclusion of some retired employees from general pension increases.
The decision followed the adoption of a motion during Tuesday’s plenary session, November 3, 2026, sponsored by Hussaini Jallo, who represents Igabi Federal Constituency of Kaduna State.
The motion, titled ‘Need to investigate the Central Bank of Nigeria for alleged breach of approved pension agreements, non-implementation of harmonization policy and exclusion of pensioners from general pension increases’, raised concerns about the welfare and retirement entitlements of former employees of the apex bank.
While presenting the motion, Jallo expressed concern over what he described as alleged violations of existing agreements governing pension benefits, warning that the situation had left many retired CBN workers struggling to access their rightful entitlements.
He said the alleged failure to implement the harmonisation policy had created disparities in pension payments and resulted in the accumulation of outstanding arrears.
“The House is concerned that the alleged non-implementation and faulty execution of the harmonization policy may have led to disparities in pension benefits and the accumulation of unpaid arrears,” Jallo said.
The lawmaker further alleged that some pensioners had been left out of general pension increases over additional requirements which, according to him, might not be backed by existing laws, agreements or approved pension policies.
Providing further details, Jallo disclosed that the number of CBN pensioners had declined from 5,104 in 2011 to approximately 3,000, representing a reduction of more than 2,100 retirees.
He warned that continued delays in the payment of pension entitlements could worsen the living conditions of elderly retirees, exposing them to poverty, ill health and preventable deaths.
Jallo maintained that Nigerians who had dedicated their working years to serving the country deserved fairness, transparency and prompt payment of their retirement benefits.
The motion received overwhelming support from lawmakers through a voice vote during the plenary presided over by the Speaker, Tajudeen Abbas.
Following its adoption, the House called on the CBN and other relevant authorities to verify and settle all outstanding pension arrears owed to eligible retirees within a clearly defined timeframe.
Lawmakers also demanded that qualified pensioners be included in applicable general pension increases in accordance with existing laws and approved policies.
The House subsequently resolved to invite Cardoso, relevant CBN officials, pension administrators, regulators and representatives of affected retirees to appear before it and provide explanations, alongside relevant supporting documents.
It also mandated its Committee on Pension to investigate the alleged breaches of pension agreements, particularly those relating to the administration and payment of retirement benefits by the apex bank.
The committee is expected to examine the circumstances surrounding the non-implementation of the harmonisation policy, establish the reasons for the accumulated arrears and determine the amount outstanding.
It will also investigate the alleged exclusion of eligible pensioners from general pension increases and assess whether the practice complies with existing laws and approved pension arrangements.
As part of its assignment, the committee will review relevant agreements, policy circulars, payment records and actuarial reports to establish responsibility for any administrative lapses and recommend appropriate corrective measures.
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