The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has pledged to settle outstanding pension arrears by the year’s end, following a protest by retirees from the Contributory Pension Scheme.
The demonstration, which took place at the Federal Ministry of Finance on Tuesday, saw retirees blocking the ministry’s main entrance, expressing frustration over delays in pension payments and demanding an audience with the minister.
In his address to the crowd, Mr. Edun revealed that of the N88 billion allocated in the 2024 budget for pension arrears, N22 billion had already been disbursed. He assured the gathering that remaining payments would commence next week, reiterating a firm commitment to clear the outstanding balance by December.
The minister’s statement comes amid growing discontent among retirees, who have long awaited the release of their funds.
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