The National Union of Pensioners, First Bank of Nigeria (FBN) Unit, has raised serious concerns over what it describes as the unjust treatment of former employees by the management of First Bank of Nigeria.
The union has accused the bank of ignoring court orders, pension reforms, and previously signed agreements, leaving retired staff members in financial distress.
In a statement issued to journalists in Abuja, the National Chairman of the FBN Pensioners’ Union, Pastor Gimbason John, expressed the deep frustrations felt by the pensioners.
He lamented the current state of pension payments, revealing that retirees, who had dedicated 30 to 35 years of their lives to the service of the bank, are now receiving monthly pensions ranging from as little as ₦4,500 to a maximum of ₦15,000.
The statement signed by Pastor Gimbason reads, “The National Union of Pensioners (FBN Unit) accuses First Bank management of refusing to comply with court orders, ignoring pension reforms, and disregarding signed agreements.
“After 30-35 years of meritorious service, First Bank pensioners receive amounts ranging from ₦4,500 to ₦15,000 per month.”
The union’s leadership condemned the bank’s indifference toward the plight of its former employees, calling for an immediate review and enhancement of the meagre pensions currently being paid.
Pastor Gimbason stressed the need for the bank to respect the rights of its pensioners by complying with legal judgments and implementing the necessary pension reforms.
“The struggle continues,” Pastor Gimbason said. “FBN pensioners have endured years of frustration seeking fair pension payments.
“Having spent our youthful years and worked meritoriously to take the bank to its enviable position, we demand justice and fair treatment.”
The pensioners’ union has consistently sought to engage First Bank’s management to resolve these issues but claims their pleas have been met with resistance.
The pensioners are now calling on the relevant authorities, including the National Pension Commission (PenCom), to intervene in ensuring that the bank complies with established pension regulations and court rulings.
The retirees, many of whom are advanced in age and struggling with health challenges, say that the meagre pensions they receive are grossly insufficient to meet their basic needs, including healthcare and daily living expenses.
Some pensioners have reportedly slipped into poverty, relying on family support or community aid to survive, despite their years of loyal service to one of Nigeria’s largest financial institutions.
This latest outcry from First Bank pensioners comes amidst growing national conversations about the treatment of retirees across various sectors in Nigeria, as pensioners in many industries continue to decry the poor implementation of pension reforms.
The issue of delayed and inadequate pension payments has been a recurring challenge, despite the establishment of pension reforms aimed at ensuring better treatment and financial security for retirees.
First Bank of Nigeria, which prides itself as one of Nigeria’s most historic and prestigious financial institutions, is yet to officially respond to these recent allegations.
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