The House of Representatives has resolved to summon Central Bank of Nigeria (CBN) Governor Olayemi Cardoso over allegations that the apex bank failed to honour approved pension agreements and pay outstanding benefits owed to its retired employees.
The decision followed the adoption of a motion during plenary on Tuesday, November 3, 2026, raising concerns about the implementation of the CBN’s pension harmonisation policy and the alleged exclusion of some retirees from general pension increases.
The motion, sponsored by Hussaini Jallo, who represents Igabi Federal Constituency of Kaduna State, highlighted the difficulties reportedly faced by former CBN employees over delayed payments and disparities in their retirement benefits.
Presenting the motion, Jallo argued that the alleged failure to implement the harmonisation policy had created differences in pension payments and resulted in the accumulation of arrears, leaving some retirees struggling to meet their financial needs.
He also expressed concern that some pensioners had reportedly been left out of general pension increases because of additional conditions which, according to him, might not be supported by existing laws, agreements or approved pension policies.
“The House is concerned that the alleged non-implementation and faulty execution of the harmonisation policy may have led to disparities in pension benefits and the accumulation of unpaid arrears,” Jallo said.
The lawmaker disclosed that the number of CBN pensioners had reduced from 5,104 in 2011 to approximately 3,000, a decline of more than 2,100 retirees.
He warned that continued delays in the payment of pension entitlements could expose elderly retirees to poverty, ill health and preventable deaths, stressing that those who served the country deserved fairness, transparency and timely access to their lawful benefits.
The motion received the support of lawmakers through a voice vote during the plenary presided over by Speaker Tajudeen Abbas.
Following its adoption, the House urged the CBN and relevant authorities to identify eligible retirees and ensure the payment of outstanding pension arrears within a clearly defined period. It also called for the extension of applicable general pension increases to qualified beneficiaries in line with existing laws.
The lawmakers further resolved to invite Cardoso, relevant CBN officials, pension administrators, regulators and representatives of the affected retirees to appear before the House and provide explanations, alongside relevant documents.
The House Committee on Pension was also mandated to investigate the alleged breaches of pension agreements, examine the circumstances surrounding the non-implementation of the harmonisation policy and establish the reasons for the outstanding payments.
The committee is expected to review relevant agreements, policy circulars, payment records and actuarial reports, as well as determine whether eligible pensioners were wrongly excluded from general increases.
The development places renewed attention on the welfare of retired public-sector workers, particularly the importance of ensuring that pension agreements are implemented and retirement benefits are paid without unnecessary delays.
For the affected CBN pensioners, the outcome of the investigation could determine whether long-standing payment concerns are addressed and outstanding entitlements are eventually settled.