The Federal Government has released N44 billion to partially settle outstanding pension rights for retirees under the Contributory Pension Scheme.

The sum was paid into the Retirement Benefits Bond Redemption Fund account at the Central Bank of Nigeria (CBN).
The National Pension Commission (NPC) revealed that the sum will cover retirees verified and enrolled between March and September 2023.

NPC further directed Pension Fund Administrators to expedite the payment process to ensure that retirees promptly receive their entitlements, reinforcing the government’s commitment to addressing pension delays.