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Retirees To Get Full Payment Of Gratuities By December – PenCom Confirms
Retirees To Get Full Payment Of Gratuities By December – PenCom Confirm
The National Pension Commission has assured Nigerian retirees that all outstanding pension arrears and gratuities will be fully cleared by December 2025 once the Federal Government’s ₦758bn bond matures.
PenCom’s Director-General, Ms Omolola Oloworaran, gave the assurance in Owerri during a two-day sensitisation workshop jointly organised with the National Salaries, Incomes and Wages Commission.
Oloworaran, who was represented by the National Commissioner in charge of the Inspectorate Department, Samuel Uwandu, disclosed that the process of converting the bond to cash was underway.
Thanks to President Bola Tinubu, who has given PenCom a bond of ₦758 billion. We are working towards cashing it, and we hope to do so before the end of the year. The bond will be converted into cash, all the gratuities will be paid in full by December, and everyone owed arrears will be fully settled,” she said.
She added that the move reflects the President’s commitment to improving the welfare of retirees and ensuring they receive their entitlements without delay.
The PenCom boss also revealed that discussions had begun with the Federal Government on increasing retirees’ benefits to 100 percent of their final emoluments.
“What this means is that whatever a pensioner earned as salary upon retirement would be what they continue to receive in full, or at least 75 percent of it,” she explained.
Although PenCom is an intermediary, we have contacted the President, and we believe this adjustment can be effected through the National Assembly.”
The National Secretary of the Nigeria Union of Pensioners Contributory Pension Scheme Sector, Bisan Olufemi, commended the Federal Government and the Wages Commission for renewed efforts to clear accumulated arrears.
He noted with satisfaction that accrued pension payments had been settled up to October and praised PenCom for its pledge to ensure retirees begin receiving their benefits the same month they retire.
One of the retirees, Mr Chris Duru, thanked the organisers for the sensitisation exercise and urged that it be held annually so more pensioners can benefit from the updates and guidance provided.
Over 100 retirees from the five states of the South-East attended the two-day programme, which focused on addressing lingering concerns over pension processing, arrears and entitlements.
News
Nigerian Gov Announces Fresh Public Holiday for Workers Across State
The Ekiti State Government has declared Friday, June 19, 2026, a work-free day for public servants in the state.
Naija News reports that the government said the holiday was to enable workers to travel to their respective voting centres ahead of the governorship election scheduled for Saturday, June 20.
This was contained in a statement issued on Thursday by the Permanent Secretary to the Head of Service, Janet Ajibola.
“His Excellency, the Governor of Ekiti State, Biodun Abayomi Oyebanji, has graciously declared Friday, 19th June, 2026, as a work-free day for all public servants across the state,” the statement read.
Ajibola said the directive was addressed to commissioners, special advisers, the Secretary to the State Government, permanent secretaries, the Clerk of the House, heads of tertiary institutions, the Registrar of the High Court of Justice, general managers, executive secretaries and heads of departments.
“For the purpose of public safety and continuity of essential services, hospitals and health centres, fire service departments and other essential service providers are exempted and shall continue to provide appropriate services,” the statement added.
The Permanent Secretary urged heads of exempted essential institutions to ensure uninterrupted service delivery during the election period.
She also directed chief executive officers and accounting officers across state parastatals to ensure compliance and wide circulation of the directive.
News
BREAKING: Mixed Reactions as Tinubu Announces Fresh Appointment
The news of Kunle Elebute by President Bola Ahmed Tinubu as the chair of the Governing Board of the Financial Reporting Council of Nigeria (FRCN). has started generating reactions from Nigerians.
Kunle Elebute, a renowned chartered accountant and financial management consultant, as the chair of the Governing Board of the Financial Reporting Council of Nigeria (FRCN).
This was disclosed in a statement by the presidency on Thursday, June 18, adding that his appointment, adding that his appointment was meant to strengthen corporate governance, deepen accountability and transparency, as well as enhance the confidence of investors within the financial reporting ecosystem of Nigeria.
According to The Punch, Elebute is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) with over 40 years of professional experience in Nigeria, West Africa and the world at large. Elebute had earlier served as the senior partner and chief executive officer of KPMG Nigeria, the KPMG West Africa chairman and the chairman of KPMG Africa.
Also, he had served on the regional and global boards of KPMG, such as its Global Board Audit Committee.
In the statement, he was described as a highly respected professional with wide experience in financial advisory services, auditing, strategic transformation, risk consulting and corporate governance.
Below are some of their comments:
Segun Benson said the appointment should have gone to another qualified person in another region of the country: “I would have expected Mr President to appoint a qualified person from another region.. no shades.”
Dimeji Lawal said that Nigerians are on the lookout for the effect of the appointment: “The appointment is one thing. The impact of the appointment is what Nigerians will be watching.”
Danjuma claimed that Tinubu’s appointments are following a particular pattern of the late former president Muhammadu Buhari: “I like Tinubu for this, he is following the footsteps of Buhari, who fulanised Nigeria with his appointments.”
Shamsuddeen commended the appointment of Elebute by President Tinubu, describing it as wonderful: “That’s another wonderful selection by President Tinubu GCFR by appointing Mr Elebute. Congratulations sir.”
News
Tinubu Makes Fresh Top Appointment
President Bola Tinubu has approved the appointment of Kunle Elebute as the Chairman of the Governing Board of the Financial Reporting Council of Nigeria.
Naija News reports that the appointment was disclosed in a statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Thursday.

Mr. Kunle Elebute
Elebute is a former Chief Executive Officer of KPMG Nigeria and previously served as Chairman of KPMG Africa.
During his illustrious career, he also served on KPMG’s regional and global boards, including its Global Board Audit Committee.
He is an accountant and economist with several decades of experience in auditing, financial advisory, corporate governance, and business consulting.
“Mr Elebute’s appointment comes at a pivotal time as the FRCN advances key institutional priorities, including ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and broader efforts to align Nigeria’s corporate reporting framework with international best practices.
“The Federal Government is confident that his wealth of experience, leadership, and governance expertise will further strengthen the Council’s mandate and support the Renewed Hope Agenda’s objective of building a more transparent, competitive, and investment-friendly economy,” the statement added.
The Financial Reporting Council is the agency responsible for setting and enforcing accounting, auditing, actuarial, valuation, and corporate governance standards in Nigeria.
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