The Federal Government has approved the issuance of N758 billion in bonds to clear outstanding pension liabilities under the Contributory Pension Scheme (CPS).

Director-General of the National Pension Commission (PenCom), Ms. Omolola Bridget Oloworaran, disclosed this during a media briefing, noting that the move demonstrates the Tinubu-Kashim administration’s commitment to the welfare of retirees and the sustainability of Nigeria’s pension system.

According to her, the funds will cover accrued pension rights of Federal Government employees who retired up to December 2022, while future payments will now be made promptly through a structured funding arrangement. She added that the bond issuance marks a major step toward restoring confidence in the nation’s pension sector.