Abuja: The National Chairman of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), Mr. Sylva Nwaiwu, has called on the National Assembly to approve the implementation of a N758 billion Treasury bond. Nwaiwu made this appeal during the union’s National Conference in Abuja, emphasizing the critical nature of the bond for settling government liabilities to Contributory Pension Scheme (CPS) retirees, some of whom have awaited compensation for over two decades.
According to News Agency of Nigeria, Nwaiwu applauded President Bola Tinubu for the Federal Executive Council’s approval of the Treasury Bond in February, describing it as a necessary fiscal move to address outstanding liabilities. He noted that while many CPS retirees celebrated the bond’s approval, the delay in implementation has resulted in fatalities among retirees due to prolonged stress and expectations. Nwaiwu urged prompt action to prevent further tragedies and promised a nationwide celebration should the bond be implemented.
The Secretary to the Government of the Federation, Mr. George Akume, represented by Mr. Nadungu Gagare, echoed sentiments of fiscal responsibility and humanity attributed to the Tinubu administration. Akume emphasized the administration’s commitment to pension reform and the welfare of senior citizens, highlighting efforts to address bottlenecks and ensure transparency in benefit disbursement. He reassured that the government is focused on resolving existing challenges and is committed to fair treatment of all pensioners.
Patience Oniha, Director-General of the Debt Management Office (DMO), conveyed readiness to act swiftly once the National Assembly grants approval. Represented by Mr. Abubakar Kulo, she assured that the bond issuance would commence immediately following legislative consent, signaling that the wait for retirees might soon conclude.
