Nigeria’s House of Representatives has formally invited Central Bank of Nigeria (CBN) Governor Olayemi Cardoso to appear before the chamber to address serious allegations regarding pension administration. The invitation centers on reported breaches of pension agreements and the failure to disburse benefits to retirees within the central bank.
The legislative body seeks clarification on the specific nature of the alleged non-payment of pension arrears affecting former CBN staff. Committee members are demanding an explanation for why these financial obligations have not been met in accordance with established agreements.
This move highlights growing scrutiny over the management of pension funds and the accountability of financial institutions in Nigeria. The House aims to ensure that the rights of retired employees are protected and that the central bank adheres to its contractual and legal duties.
While the source material does not specify the exact date of the hearing or the total amount of unpaid arrears, the request signals a significant intervention by the legislature into the internal financial practices of the country’s monetary authority.
Cardoso, who took office as CBN Governor in 2023, will be required to present the central bank’s position on the matter. The outcome of this inquiry could have broader implications for pension governance and employee relations within Nigeria’s financial sector.
<small>Source: Punch Nigeria — read the original story there.</small>
