Customs Releases N7.61bn Pension Funds To 4,237 Retirees

The Nigeria Customs Service (NCS) has released N7.61 billion to nine Pension Fund Administrators (PFAs) for the payment of pension benefits to 4,237 retired officers, reaffirming its commitment to the welfare of its retirees.

The Comptroller-General of Customs (CGC), Adewale Adeniyi, disclosed this during a dialogue with retired Customs officers held on Tuesday, where he said the funds had already been transferred to the PFAs for onward payment into the beneficiaries’ Retirement Savings Accounts.

According to a breakdown presented at the meeting, Access-ARM Pension Managers will pay 1,223 retirees, Premium Pension 2,268, Leadway Pensions 403, TrustFund Pensions 156, FCMB Pensions 144, Veritas Glanvills Pensions 28, Norrenberger Pensions 11 and Fidelity Pension Managers four, bringing the total number of beneficiaries to 4,237.

Adeniyi said the disbursement reflects the Service’s resolve to honour its obligations to officers who dedicated years of service to the nation, stressing that the welfare of retired personnel remains a priority.

He noted that the Service must remain financially strong to meet its responsibilities to both serving officers and retirees, adding that the future of the institution is closely tied to how it treats those who have served it diligently.

The CGC also assured the retirees that the Service would continue to engage them through regular dialogue to address their concerns and improve communication.

“I acknowledged your concerns and suggestions raised, and it is in view of this we called for this dialogue to promote better understanding and reduce the effect of rumours and unofficial information on the relationship between the Service and its retired personnel,” Adeniyi said.

The meeting was attended by the Deputy Comptroller-General of Customs in charge of Human Resources Development, DCG Tijjani Abe, alongside other members of the Customs Management Team, who assured the retirees that issues raised during the engagement would receive due consideration at the Board and Management levels.

The retirees commended the Comptroller-General and the management for creating a platform for direct engagement and appealed for sustained interaction to strengthen the relationship between serving and retired officers.

The dialogue comes amid ongoing Federal Government efforts to improve pension administration following the review of statutory provisions governing pensions, including Section 15(4) of the Pension Reform Act 2014, in line with Section 173(3) of the 1999 Constitution (as amended).