Bank retirees in Ibadan protest, decry N15,000 pension

Pensioners of First Bank of Nigeria in the Southwest region staged a protest at the bank’s regional office in Ibadan, decrying poor welfare and medical allowances.

The retirees carried placards with inscriptions such as ‘N30,000 annual medical allowance not enough to buy BP drugs’ and ‘N15,000 pension per month is wicked’, expressing dissatisfaction with their monthly pension of N15,000 and annual medical allowance of N30,000.

They alleged that the bank had failed to fulfil promises made over two decades to improve these benefits.

The pensioners described their action as a warning protest ahead of the first quarter, during which the bank management had pledged to review their pension package. They lamented that many retirees had passed away without enjoying a decent standard of living after years of service to the bank.

A former National President of First Bank Retirees, Prince Debo Olaoya, speaking on behalf of the protesters, accused the bank of neglecting their welfare. “Eighty per cent of us earn N15,000 per month. We are dying in droves. A lot of us cannot meet our hospital bills. We are appealing to First Bank to do the needful,” he said.

Another retiree, Mr Adekunle Ajibola, demanded an increase in their pension to N350,000 monthly and annual medical care of N500,000.

“Some of us are bedridden, old and suffering from age-related ailments.”

We are spending all we have on hospital bills. The account of our accumulated pension trust funds should be given to us,” he stated.

At the conclusion of the protest, a letter containing their demands was presented to three managers at the bank’s Ibadan branch. The managers assured the pensioners that their concerns would be forwarded to the bank’s headquarters in Lagos.

“Your letter will be delivered to the appropriate quarters,” the senior officers, who wished to remain anonymous, said.

The pensioners vowed to picket the bank by the end of March if their demands are not addressed.