JUST IN; President Tinubu approves N758b fund to boost pensions for retired federal workers
JUST IN; President Tinubu approves N758b fund to boost pensions for retired federal workers
Retired federal employees under the Contributory Pension Scheme (CPS) are set to receive a significant boost to their monthly pensions.
President Bola Ahmed Tinubu has approved a N758 billion bond to clear all outstanding pension liabilities, with each retiree receiving a N32,000 monthly increase.
This adjustment ensures that retirees benefit from the new National Minimum Wage Amendment Act 2024 and its consequential adjustments.
The N32,000 will be the new baseline for all retired federal workers, including those in the education, health, and security sectors, as well as the Armed Forces.
The increase will be applied regardless of a retiree’s accumulated savings.
This initiative follows President Tinubu’s directive on August 6 for the “prompt implementation of long-overdue pension increases and a minimum pension guarantee, which would provide a safety net for the most vulnerable pensioners under the CPS.”
An official from the National Pension Commission (PenCom) confirmed that “with the National Assembly’s recent concurrence with the President’s directive, the bond proceeds will soon be available to settle the retirees.”
Another PenCom official provided further detail on the initiative, explaining that the goal is to establish a minimum amount for every retiree.
“The pension increase for CPS retirees and the minimum pension guarantee means setting a baseline amount that every retiree under the Contributory Pension Scheme would receive, no matter how small their accumulated savings are,” the official said.
“This acts as a financial safety net to protect the poorest and most vulnerable retirees from falling into poverty.”
PenCom’s Director-General, Omolola Oloworaran, explained how the N758 billion will be allocated:
N253 billion will be used to clear accrued rights. These are entitlements for federal workers employed before the CPS started in 2004 or those who were close to retirement at the time.
This payment “will put an end to the delays in pension disbursements that have caused frustration in recent months.”
N387.5 billion is committed to settling pension increases dating back to 2007, an issue that has gone unresolved for nearly two decades.
“This administration has decided to take the matter seriously and settle all outstanding pension increases from 2007 till date.”
N107 billion is earmarked for the Pension Protection Fund, which is designed to support low-income retirees.
According to Oloworaran, “This fund is meant to augment pensions for low-income earners to enable them to earn a living wage.”
The Director-General noted that PenCom is working with other agencies to finalize the bond issuance quickly. Once the funds are released, Pension Fund Administrators (PFAs) will credit retirees’ accounts.
“PFAs have committed to prompt payments once funds are available, while PenCom will provide oversight to ensure beneficiaries are paid immediately,” she said.
Oloworaran emphasized that this intervention is critical for restoring public trust in the CPS.
“Confidence in the CPS has waned in recent years due to unresolved liabilities. This payment initiative allows us to rebuild trust and demonstrates that the government is committed to protecting the welfare of ordinary Nigerians,” she concluded.
News
Delay in wage award payment arrears no longer acceptable – civil servants tell FG
Delay in wage award payment arrears no longer acceptable – civil servants tell FG
Many federal civil servants have decried the continuous delay in payment of arrears of the N35,000 wage award, saying that it is unacceptable.
The civil servants spoke with the News Agency of Nigeria (NAN) on Sunday in Abuja.
One of them, Ibrahim Abbas, said that there could be no reason that can be acceptable for the long delay in clearing the three months arrears of the wage award.
According to him, the money is needed now to cushion the effect of economic hardship.
“The condition of government workers has never been this bad. The Federal Government needs to take all necessary steps to clear the outstanding three months arrears of the wage award, ” he said.
Another civil servant, Mr Patrick Ugo, also urged the Federal Government to pay up the arrears without further delay.
“The government should realise that the present minimum wage of N70 ,000 is unrealistic. The wage award will give the workers some relief.
“I will urge the Federal Government, through the Accountant-General of the Federation, to pay the outstanding three months, totaling N105,000 with the January salaries, ” he said.
Mr Sule Aliu urged the Federal Government to make the N35,000 wage award a permanent addition to the monthly salaries of civil servants.
According to Aliu, this will go a long way to alleviate the financial pressure of the workers.
NAN reports that the wage award was a temporary payment to workers, approved in 2023 to ease the burden of fuel subsidy removal, supplementing salaries while a new national minimum wage was negotiated.
It was to act as a cost-of-living adjustment, but payments faced delays, causing frustration and leading to ongoing demands from labour unions for full implementation and clearance of arrears.
In April 2025, the Federal Government announced that it would pay the outstanding five months of the N35,000 wage award arrears to workers.
The Office of the Accountant-General of the Federation (OAGF), said that the Federal Government had earlier paid five months of the wage award in instalments.
He said that the outstanding arrears would be paid in installments of N35,000 per month for five months.
The OAGF said that the Federal Government was determined to fully implement all policies and agreements regarding staff remuneration and welfare to enhance productivity and efficiency.
But after the first installment was paid in May, 2025, the second instalment was not paid until August, 2025, and nothing has been paid since then.
This leaves an outstanding payment of three months, amounting to N105,000
Meanwhile, the Federal Government said that it was committed to clearing the remaining three months arrears of N35,000 wage award without further delay.
Mr Bawa Mokwa, the Director, Press and Public Relations, Office of the Accountant-General of the Federation (OAGF), however, said that the payment was subject to the availability of funds.
Mokwa said that with the payment of the second tranche in .August, it was remaining three tranches to exhaust the wage award arrears.
“Contrary to insinuations in some quarters, the Federal Government has not reneged on payment of the wage award arrears.
“The Federal Government will continue to pay the wage award in installments of N35,000 per month until the outstanding arrears is exhausted,” he said. (NAN)
News
JUST IN; Police activate CCTV centre to boost technology-driven policing
JUST IN; Police activate CCTV centre to boost technology-driven policing
The Police Command in Lagos State has activated a Closed-Circuit Television (CCTV) Surveillance Centre in a bid to facilitate technology-driven policing to enhance security across Lagos Island and its environs.
The command’s spokesperson, SP Abimbola Adebisi, disclosed this in a statement on Sunday in Lagos.
She said that the Commissioner of Police, Mr Olohundare Jimoh, had activated the CCTV Surveillance Centre on Wednesday.
Adebisi said that the digital facility was built and fully equipped by the Federal Government, through the Ministry of Works, under the supervision of Engr. Dave Umahi.
“The facility provides real-time surveillance and monitoring of the Third Mainland Bridge, surrounding waterways, and other strategic locations within the island axis.
“The initiative is designed to proactively prevent crime and strengthen the protection of lives and property, ” she said.
To further support effective operations, the spokesperson said that two operational vehicles were formally handed over to the command on Friday, to enhance mobility and rapid response capability.
According to her, the surveillance centre, which also serves as control room 5, operates 24-hours daily, and is manned by well-trained officers, to ensure swift, intelligence-led policing and prompt response to security threats.
The image maker encouraged the public to remain vigilant and continue to partner with the police by promptly reporting suspicious activities.
“Report suspicious activities through the command’s emergency lines:
0706 101 9374, 0806 515 4338
0806 329 9264, 0803 934 4870,” she said.(NAN)
News
Police crack down on viral ‘self-kidnapping’ schemes, issues directives to DPOs, Area Commanders
Police crack down on viral ‘self-kidnapping’ schemes, issues directives to DPOs, Area Commanders
The Police Command in Lagos State, says it is monitoring social media spaces, to uncover and tackle the wave of staged kidnappings in parts of the state.
The command revealed that several social media videos of kidnapping incidents which had sparked fear and consequent ransom payment, were carefully orchestrated scams.
In an interview with the News Agency of Nigeria (NAN) on Sunday, the command’s spokesperson, SP Abimbola Adebisi, said that the Commissioner of Police, Mr Olohundare Jimoh, had deployed Tactical Squads and anti-crime units, to strengthen rapid response.
She said that Area Commanders and Divisional Police Officers (DPOs) had also been directed to engage community leaders and residents, to improve information sharing.
“The command is also closely monitoring reports on social media and other platforms to promptly verify and address any incidents that may cause public anxiety,” she said
She said that in recent days, the command had recorded several fake abductions and consequent extortions.
“One such case involved a 26-year-old housewife whose supposed abduction set off alarm bells across borders.
“Her husband, living in South Africa, received frantic reports that armed men had kidnapped his wife in Lagos.
“The ransom demand was steep N10 million before it was negotiated down to three million naira,.hoping to save his wife’s life, he paid N2.5 million, yet, she was not released.
“It was that inconsistency that triggered deeper police scrutiny; A special squad of the Lagos State Police Command was deployed and wat they uncovered was not a hostage situation, but a carefully choreographed scam,” she said
The police said that the alleged victim had staged the kidnapping with the help of an accomplice in Osun state, who supplied a SIM card used to negotiate the ransom on WhatsApp.
According to the police, the victim later confessed, adding that even the iphone she claimed was stolen during the abduction, had already been sold.
“In a related development, the Command apprehended five suspects aged between 15 and 20 years, for orchestrating another fake kidnapping that went viral on social media.
“Police investigations revealed that a 15-year-old boy, with the help of four friends, staged his own abduction in a friend’s room in the Ago Palace area of Lagos to extort money from his mother.
“A ransom of N1.7 million was paid before detectives traced the transaction through a POS terminal, leading to the arrest of the suspects.
“The case, initially reported as a missing person incident on Nov. 26, 2025, had triggered widespread panic before the truth emerged.
“Similarly, the police apprehended a young couple for allegedly faking the wife’s kidnap, to extort N10 million from relatives and friends.
“Investigations showed that the scheme was motivated by financial hardship and the husband’s failed attempts to return to the United States,” she said
The police said that the plot unraveled at a school in Cappa, Lagos, after security personnel became suspicious of the couple’s conduct and alerted the police.
Th police said that the 19-year-old wife had admitted to planning what she described as a “prank kidnapping,” claiming that she had “acted” to help her husband cope with frustrations over his travel plans.
The spokesperson urged the public to remain vigilant and promptly report suspicious activities, stressing that security is a shared responsibility.
Adebisi urged residents to remain law-abiding and to verify distress calls before taking action.
The image maker warned the public against false reporting, criminal deception and acts capable of diverting critical security resources.
She advised families to establish internal verification codes and maintain regular communication with their loved ones.
Meanwhile, Adebisi warned criminal elements to desist from all forms of crime, assuring residents that the command would continue to intensify efforts to safeguard lives and property across the state.
She urged citizens to cooperate with the police by providing credible and timely information, as public support remains vital in tackling crime.
“Avoid rushing to transfer money without confirmation and promptly report suspicious activities to the nearest police station or through the command’s emergency numbers: 07061019374, 08065154338, 08063299264 and 08039344870, ” she said.(NAN)
-
6 years ago
Our situation in Kano terrible – Gov Ganduje cries out
-
News12 months agoFG pledges commitment to enhance Police officers Welfare, implement Tinubu’s 8-point agenda for NPF
-
News11 months agoBREAKING; NSCDC gets approval to commence 2025 recruitment exercise
-
News9 months agoAlleged cocaine deal: Court issues orders in suspended DCP Abba Kyari’s case
-
News12 months agoDPO under investigation for allegedly taking teenage girl to his home while in police custody
-
News12 months agoJUST IN; Commissioner of Police bows out of Service
-
News9 months agoJUST IN; Police Inspector dies watching Arsenal match
-
News12 months agoBREAKING; NLC declare nationwide protest


