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FMBN pensioners groan over five years’ arrears


Image source treehugger

Image source treehugger

SCORES of pensioners under the aegis of Nigerian Union of Pensioners (NUP) have bemoaned alleged failure of Federal Mortgage Bank of Nigeria (FMBN) to remit their entitlements in the last five years.

The group, after a meeting held in Lagos recently, however appealed to the Federal Government to urgently intervene in the matter and save them from untold hardship experienced due to the failure of the company to remit their pensions.

The pensioners, however petitioned the Minister for Lands, Housing and Urban Development over the FMBN’s non- compliance with the directive after a meeting held on 11, February, 2015, which ordered the company to effect payment of the 25 per cent pension arrears owned the pensioners in the last five years.

A copy of the petition obtained by The Guardian, stated that, “Surprisingly, as at the time of writing this letter, the management of FMBN is yet to effect the payment. Although, March pension was paid on March 16, 2015, with the understanding that, the said arrears, will be paid on or before March 31,2015. We therefore call for your quick intervention on this matter to avoid industrial disharmony.”

The FMBN allegedly owes the entitlements due to be paid, under the reviewed pension regime in 2009/2001, which stipulated a 25 per cent increase.

The circular numbered SWC/S/04/S.542/26, effecting the new regime issued by the National Salaries, Incomes and Wages Commission and signed by the Chairman, R.O. Egbule on September 26, 2014, 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 in 2009/2010.”

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