Retirement Savings Accounts

The Nigeria Labour Congress has commended the Federal Government for remitting N7.45 billion accrued rights and benefits into the retirement savings accounts of federal retirees covering April and May 2019. The NLC President, Ayuba Wabba, described the development as a responsible move by the government “considering the adversity imposed on our retirees and pensioners by the novel coronavirus pandemic.” Wabba in a letter addressed to the Minister of Finance, Zainab Ahmed, dated July 14 titled, ‘Remittance of accrued benefits of federal civil servants to the retirees’ retirement saving accounts,’ urged the government to also consider the payment of retirees from June 2019 and July 2020. It read, “We write to commend the Federal Government for its recent decision to release the total sum of ...