The National Union of Pensioners FBN Unit has condemned FirstBank of Nigeria’s alleged refusal to comply with court orders, pension reforms, and signed agreements. In a press statement, National Chairman Pastor Gimbason John criticized the bank’s disregard for former employees’ rights, leaving pensioners frustrated and underpaid.
Despite winning a case in 2010, FirstBank allegedly failed to comply, opting to appeal and stall proceedings. Meetings between the union and the bank have yielded no results, with the bank’s repeated delays frustrating the union.
Key issues include FirstBank’s alleged failure to review pension payments every five years, as mandated by a 2016 court ruling, and meager monthly stipends ranging from N4,500 to N84,000. The union claims poor pension payments have led to untimely deaths among retirees.
The union has given FirstBank two weeks to engage in negotiations and increase pension payments to N150,000 per month. Failure to comply will result in protests at FirstBank branches nationwide. Demands include improved pension payments, increased medical allowances, free medical care, investigation into alleged missing pension funds, and pensioner representation on the bank’s board.
Gimbason appealed to the Central Bank of Nigeria, the bank’s board chairman, and the public to intervene, ensuring FirstBank complies with court orders and treats former employees with respect.
