NUPCPS Urges NASS to Approve N758 bn Treasury Bond
The National Chairman of the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS), Mr Sylva Nwaiwu, has urged the National Assembly to approve the implementation of the N758 billion Treasury bond.
Nwaiwu made the call during at the union’s National Conference in Abuja on Tuesday. He commended President Bola Tinubu for the approval of the N758 billion Treasury Bond by the Federal Executive Council (FEC) in February.
Nwaiwu said that it was to settle all government liabilities to the Contributory Pension Scheme (CPS) retirees for over 20 years. “The leadership of this union believes that the bond approval is a necessary fiscal decision to settle outstanding government liabilities to CPS retirees.
“It is also a demonstration of humanity, fiscal responsibility and moral obligation by the president, which should be commended and collaborated by the Senate,” he said.
The chairman said that many CPS retirees, who rejoiced when the bond was approved, had died while awaiting its implementation.
“It has become imperative for us to draw the attention of the Federal Government to this and appeal for an early implementation of the bond for the payments of CPS retirees.
“This is to avoid further fatalities in this sector arising from high blood pressure as a result of tensions of long expectations of entitlements.
“When that is done, we shall organise a mega solidarity party to celebrate the president’s administration which will hold across the country,” he said.
The Secretary to the Government of the Federation (SGF), Mr George Akume, described the Tinubu administration as a demonstration of humanity, fiscal responsibility and moral obligation.
Akume was represented by the Permanent Secretary, Political and Economic Affairs in the office the SGF, Mr Nadungu Gagare. He said that the President placed the welfare of all Nigerians, including the senior citizens at the heart of governance.
“Pensioners are not to be pitied, they are to be honoured, they are not liabilities but they are legacies,” he said
Akume said that the President had taken significant steps in addressing long-standing bottlenecks in the pension system, including the review and approval of measures to offset accrued pension liabilities under the CPS.
He said that the government was committed to strengthening the oversight and accountability in the pension industry, and renewing collaboration with stakeholders to ensure prompt and transparent disbursement of retirement benefits.
“While we acknowledge that much has been done, we are equally aware that more remains to be done.
“It may interest you to know that issues regarding the early implementation of approved fiscal interventions are receiving active attention.
“I assure you that the President remains committed to seeing through reforms that will provide sustainable, transparent and fair treatment to all pensioners especially those under CPS,” he said.
He encouraged the union to continue engaging government through constructive dialogue, data-driven advocacy and collaboration. Patience Oniha, the Director-General, Debt Management Office (DMO), said that when the National Assembly gives the necessary approval, the bond would be immediately implemented.
Oniha, who was represented by DMO’s Director, Organisational Resourcing Department, Mr Abubakar Kulo, said that the wait would soon be over.
“We are ready to work on the bond as soon as the National Assembly approves it. We will commence the issuance of the bonds as soon as the approval is given,” she said. MTN Nigeria Delivers 78% Return on Investment Year to Date
