The Federal Government has cleared all inherited pension liabilities dating back to 2007 by issuing a N758 billion intervention bond, a move that will benefit 957,045 retirees across the country.
The intervention bond was launched to settle outstanding pension arrears that had accumulated over a 17‑year period. By injecting the required funds, the government aims to bring the pension system back into compliance with statutory obligations.
With the backlog removed, retirees who had been waiting for overdue payments will receive the amounts owed to them. The move is expected to improve confidence in the national pension scheme and reduce the risk of further delays.
Financial analysts note that the N758 billion bond represents a significant commitment by the government to address long‑standing fiscal pressures on the pension fund. It also signals a broader effort to strengthen the country’s social security infrastructure.
While the intervention bond resolves the immediate arrears, the government will need to maintain sustainable funding mechanisms to prevent future backlogs and ensure timely pension disbursements for all beneficiaries.
<small>Source: Punch Nigeria — read the original story there.</small>
