The House of Representatives of Nigeria has invited the Governor of the Central Bank of Nigeria (CBN) to explain allegations of pension payment irregularities, outstanding arrears and unequal retirement benefits affecting former employees of the apex bank.
The lawmakers are seeking clarification over claims that some CBN retirees have been denied pension increases and other entitlements despite existing agreements and approved retirement policies.
The decision followed the adoption of a motion sponsored by Hon. Hussain Jallo, an All Progressives Congress (APC) lawmaker representing Kaduna State, during plenary on Tuesday, November 3, 2026.
House of Representatives orders probe into CBN pension payments
Presenting the motion, Jallo raised concerns about the administration of pensions and retirement benefits for former CBN employees.
He said complaints from affected pensioners suggested that some approved retirement arrangements had not been properly implemented.
According to the lawmaker, alleged failures to honour contractual agreements and pension policies had created financial difficulties for retirees who rely on their monthly benefits.
Jallo argued that the National Assembly needed to investigate the complaints to determine whether pension administrators had complied with relevant laws and established agreements.
He maintained that retired public servants should not face unnecessary obstacles when accessing benefits earned during their years of service.
CBN pension harmonisation policy raises concerns
A major issue identified in the motion was the alleged improper implementation of the CBN’s pension harmonisation policy.
The policy is intended to address differences in retirement benefits among eligible categories of pensioners.
However, Jallo said complaints suggested that the policy might not have been applied consistently, potentially creating unequal payments and unpaid pension arrears.
He also raised allegations that some retirees had been excluded from general pension increases because of additional conditions that might not be supported by existing laws or approved pension agreements.
The lawmaker called for an examination of the applicable policies to establish whether the exclusions were justified.
The allegations have not yet been established by the parliamentary investigation, and the CBN’s response will be important in determining the facts.
CBN pensioners reportedly decline from 5,104 to 3,000
Jallo also expressed concern about the declining number of surviving CBN pensioners.
Citing figures presented in his motion, he said the population had fallen from 5,104 in 2011 to approximately 3,000 in 2026.
CBN pensioner population cited by lawmakers
2011
### 5,104
2026 (approx.)
### 3,000
The reported reduction of approximately 2,104 pensioners does not, by itself, establish the number or causes of deaths.
The lawmaker said the figures raised concerns about the vulnerability of elderly retirees, particularly those experiencing delays in receiving pension payments.
He warned that prolonged financial uncertainty could worsen existing health and welfare challenges among pensioners.
However, the figures presented do not establish that delayed pension payments caused the reduction in the pensioner population.
Lawmakers demand payment of outstanding pension arrears
Following the debate, the House called on the CBN and other relevant authorities to review outstanding pension claims and settle all verified arrears owed to eligible retirees.
The lawmakers requested that the payments be completed within a reasonable and clearly specified timeframe.
They also urged the bank to ensure that qualified pensioners benefit from general pension increases in accordance with applicable laws, contractual agreements and approved policies.
The resolution seeks to address complaints about unequal treatment while ensuring that any payments made are supported by the relevant pension regulations.
CBN governor, pension administrators and retirees invited
As part of its oversight responsibilities, the House invited the CBN governor alongside relevant pension administrators, regulatory bodies and representatives of affected retirees.
Those invited are expected to provide explanations and documentary evidence concerning the pension arrangements under investigation.
The inquiry is expected to examine how the harmonisation policy was implemented, the basis for excluding certain retirees from pension increases and the status of alleged outstanding arrears.
It will also provide an opportunity for the CBN and other stakeholders to respond to the claims raised by pensioners.
The House did not announce a specific date for the invited officials to appear in the report.
Speaker Abbas gives committee four weeks to investigate
Following the adoption of the motion, Speaker Tajudeen Abbas directed the House Committee on Pensions to investigate the allegations.
The committee was given four weeks to examine the complaints and submit its findings for further legislative consideration.
Its report is expected to guide any additional action the House may consider necessary.
The inquiry could also clarify the legal obligations of the CBN concerning pension harmonisation, retirement benefits and the treatment of former employees.
What the investigation means for CBN retirees
For affected pensioners, the investigation creates a formal opportunity for their complaints to be examined through the National Assembly’s oversight process.
The outcome will depend on the evidence submitted by the CBN, pension administrators, regulators and retirees.
The committee will need to establish which pension increases are legally applicable, whether any arrears remain unpaid and whether administrative procedures have been followed correctly.
Until the investigation is completed, the claims remain allegations rather than confirmed findings of wrongdoing.
The House has nevertheless called for prompt settlement of any retirement benefits found to be lawfully outstanding.
