House of Representatives calls for investigation into CBN pension breaches

The House of Representatives resolved to investigate the Central Bank of Nigeria concerning alleged breaches of pension agreements and the non-payment of benefits to retired employees of the bank. The resolution included inviting Olayemi Cardoso, the Governor of the Central Bank of Nigeria, to explain the issues. The motion cited concerns over the non-implementation and faulty execution of the harmonization policy, which allegedly resulted in disparities and unpaid arrears for pensioners.

The investigation addresses the financial welfare of retired employees who rely on these funds for their livelihood. The alleged non-compliance with contractual agreements and the accumulation of unpaid arrears pose financial hardship to affected pensioners.