Pensioners Seek N150,000 Monthly Pension Review, Threaten Protest

The National Union of Pensioners, First Bank of Nigeria (FBN) Unit, has issued an ultimatum to the bank’s management, demanding a review of their monthly pensions to N150,000.

The union’s demands include a free medical treatment package, or an annual medical allowance of N300,000, up from the current N30,000.

Speaking to journalists in Abuja, the national chairman of the union, Pastor Gimbason John lamented the continuous refusal of the bank to implement a previously signed Memorandum of Understanding (MOU) and industrial relations matters.

The pensioners have given the bank a two-week deadline to resume negotiations, failing which they threaten to mobilise thousands of retirees in a mass protest on the streets of Marina, Lagos.

Additionally, the union called for the pensioners to be represented on the bank’s board, citing their over 5% shareholding in the company.

They further demanded the bank’s transparency in the handling of the pension funds, particularly the N300 billion in pension assets.

“We have explored all possible means to make FBN management understand our plight, but to no avail. We are now left with no option but to take our destiny into our own hands.

“We call out the management of FBN to resume negotiation with the union in the next two weeks or face the wrath of the union and thousands of our pensioners whom the First Bank management has tried albeit unsuccessfully to send them to their early grave due to poor conditions and welfare packages for their Pensioners.

“The management must as a matter of urgency review our pension to an uncompromising figure of N150,000 per month. Failure of which, we will be left with no other option than to march out our Pensioners on the streets of Marina, Lagos to lock down the national headquarters of First Bank”.

The union called on the Central Bank of Nigeria, the First Bank Board chairman, and well-meaning Nigerians to intervene in the matter.