… Assures retirees of speedy resolution

The Managing Director of the Bank of Agriculture, Ayo Sotinrin, has assured retirees of the financial institution that the payment of the outstanding 53-month pension arrears will be facilitated under the Defined Pension Scheme by the end of June 2026.

The pensioners received the commitment from the new management of the bank headed by Sotinrin after 12 years of unfulfilled promises during a meeting with representatives of two major pensioner associations.
Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) BOA branch and the Nigeria Union of Pensioners (NUP) BOA sectional unit.

The outstanding arrears, valued at N257.18 million, stem from a 33 per cent pension increment approved by the National Salaries, Income and Wages Commission, covering 54 months from July 2010 to December 2014.

However, the bank reportedly paid only one month of the approved increment, amounting to N5.05 million, leaving a balance of 53 months unpaid.

In a statement signed and issued by the bank’s Acting Head, Human Resources Development Department (HRDD), Bella Samson, Sotinrin, who commended the pensioners for their patience, understanding, and restraint despite the prolonged delay in the payment of their entitlements, stated that they maintained constructive engagement with the bank over the years.

The BOA Managing Director also acknowledged the pensioners’ sacrifices and contributions to the growth of the institution, assuring them that the current management would prioritise the resolution of the outstanding arrears.

The meeting, which brought together the bank’s management, the Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) BOA branch, and the Nigeria Union of Pensioners (NUP) BOA sectional unit, was led by the Executive Director of Corporate Services, Fatima Garba.

Garba urged the pensioners to continue working in peace and harmony with all relevant bodies while praying for the progress of the bank.

Speaking on behalf of their members, the Caretaker Committee Chairman of FEPPPAN, S.O. Momoh, and the NUP Chairman of the BOA sectional unit, Mal Isah Ijah, explained that the meeting was convened to find an immediate solution to the long-standing arrears.

It was noted that the matter had remained unresolved for about 12 years despite several reminder letters sent to successive BOA management teams since 2015.

The pensioners further disclosed that the bank, in a letter dated September 22, 2020, had acknowledged the arrears in correspondence with the Pension Transitional Arrangement Directorate, raising their hopes that the amount would eventually be paid.

However, they lamented that previous managements repeatedly promised to settle the arrears but failed to fulfil those commitments.

Momoh and Mal Ijah commended Sotinrin for convening the meeting and expressed optimism that the new board and management would resolve the matter once and for all.

They also expressed hope that the administration of President Bola Tinubu would encourage the bank to prioritise pensioners’ welfare and ease their suffering.

While appreciating the Managing Director for his assurance and willingness to use his office to facilitate the payment, the pensioners’ leaders said they were confident the promise would be fulfilled within the shortest possible time, adding that Sotinrin had given them renewed hope through his direct engagement.