The House of Representatives has resolved to invite the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, over alleged breaches of pension agreements and the failure to pay outstanding benefits owed to retired employees of the apex bank.
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The decision followed the adoption of a motion sponsored by Hussaini Jallo, who represents Igabi Federal Constituency of Kaduna State, during plenary on Tuesday, November 3, 2026.
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The motion raised concerns about the alleged failure of the CBN to honour agreements governing pension entitlements, implement its pension harmonisation policy and extend general pension increases to eligible retirees.
Presenting the motion, Jallo said the alleged non-implementation of the harmonisation policy had created disparities in pension payments and resulted in accumulated arrears, leaving affected retirees in financial difficulty.
He also alleged that some pensioners had been excluded from general pension increases because of additional requirements which might not be backed by existing laws, agreements or approved pension policies.
Jallo disclosed that the number of CBN pensioners had fallen from 5,104 in 2011 to about 3,000. He warned that continued delays in settling their entitlements could expose elderly retirees to poverty, ill health and preventable deaths.
The lawmaker maintained that former employees who had served the country deserved fair treatment, transparency and prompt payment of their lawful benefits.
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The motion received overwhelming support through a voice vote during the plenary session presided over by Speaker Tajudeen Abbas.
Following its adoption, lawmakers urged the CBN and relevant authorities to verify and settle all outstanding pension arrears owed to eligible retirees within a clearly defined timeframe. They also called for qualified pensioners to receive applicable general increases in accordance with existing laws.
The House subsequently resolved to invite Cardoso, relevant CBN officials, pension administrators, regulators and representatives of affected retirees to explain the situation and submit supporting documents.
It also directed its Committee on Pension to investigate the alleged breaches of pension agreements, particularly the terms governing the administration and payment of retirement benefits.
The committee is expected to establish why the harmonisation policy was not implemented, determine the extent of the delays and calculate the outstanding arrears.
It will also examine the alleged exclusion of eligible pensioners from general increases and assess whether the practice complies with existing laws and approved pension policies.
As part of the investigation, the committee will review relevant agreements, policy circulars, payment records and actuarial reports to establish responsibility for any administrative failures and recommend corrective measures.
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