N302bn Pension Arrears: What Budget Minister, Udoma, told Reps

The House of Representatives on Thursday quizzed the Minister of Finance, Kemi Adeosun and her Budget and National Planning counterpart, Udoma Udo Udoma over N302.4 billion pension arrears.

The lawmakers demanded to know what the Executive was doing to offset the outstanding pension liabilities under the Defined Benefit Scheme (DBS) and the Contributory Pensions Scheme (CPS).

The Speaker of the House, Yakubu Dogara, while summoning the ministers last week said the ministers and heads of relevant agencies must appear before the Green Chamber to find a realistic solution to the intractable problem of outstanding pension payments.

But both Adeosun and Udoma while making presentation pleaded for more time to pay the outstanding pension arrears, saying the Federal Government paid N54 billion out of the outstanding pension arrears on Wednesday.

The challenge, according to the ministers was due to the inability of the government to reconcile the figures between the relevant pension administration agencies.

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