Appreciation to President Bola Ahmed Tinubu for the release of ₦758 Billion to CPS Pensioners in Nigeria.
The Nigeria Union of Pensioners Contributory Pension Scheme (NUPCPS), Lagos State Council, joins millions of retirees across the federation to express profound appreciation to His Excellency, President Bola Ahmed Tinubu, GCFR, for his timely release of the sum of ₦758 billion for the settlement of Accrued Rights , increament and consequential adjustments to CPS pensioners from 2007 to 2024, including 32k across board.
This landmark approval is not just a policy action; it is a compassionate intervention that rekindles hope in the hearts of those who devoted the most productive years of their lives to the service of our nation. President Tinubu’s commitment to the welfare of senior citizens reflects his administration’s resolve to prioritize equity, justice, renewed hope agenda and dignity in retirement.
We also commend the National Pension Commission (PENCOM) under the hegemony of MS Omolola Oloworaran, a visionary leader, for the speed with which it has commenced the rescue and reformation process of the CPS in Nigeria . The disbursement of funds into the Retirement Savings Accounts (RSAs) of pensioners nationwide is in motion.
The union cannot do without expressing appreciation to the whistle blower, the man who laid his life for the financial freedom of pensioners Comrade Sylva Nwaiwu, the National Chairman of the NUPCPS for the laudable roles he played to make the agitation a reality. This ongoing exercise demonstrates efficiency and transparency, two core values needed to strengthen confidence in the Contributory Pension Scheme.The G5 States , Lagos , Osun, Delta, Kaduna and FCT CPS pensioners are eagerly awaiting the release of PENCOM’s official Template for implementation .The NUPCPS G5 states have already made provisions for the collection of the Templates which will serve as the guiding framework for the full roll-out of this historic approval within the five affected states. We remain optimistic that this process will soon be concluded to ensure that the benefits reach every retiree without delay.
This release stands as yet another testimony of President Tinubu’s understanding of the struggles of pensioners and his unwavering determination to alleviate their burdens. Pension is not a privilege but a right, and by ensuring that retirees receive their entitlements, the Federal Government is set to restored dignity, fairness, and hope to thousands of families.
As beneficiaries, we express our heartfelt gratitude to the President for this remarkable step, while also acknowledging the role of the DG PENCOM, Ms Omolola Oloworaran in driving the disbursement process. We trust that this will mark the beginning of even greater reforms and interventions aimed at strengthening Nigeria’s pension administration.
May the Almighty God continue to grant His Excellency the wisdom, strength, and health required to lead our nation towards a brighter future.
Long live President Bola Ahmed Tinubu!
Long live the Federal Republic of Nigeria!
Comr Omisande Michael Adeyemo, the Chairman NUPCPS LAGOS STATE COUNCIL, and Chairman G 5 States.