The Association of Former Employees of NICON Insurance (AFENI) Pensioners has lamented what it called systematic exclusion of its members from the revised implementation of the Consequential Pension Adjustment (CPA), the N32,000 wage award approved by President Bola Ahmed Tinubu and other statutory pension entitlements.
The body described the exclusion as a gross act of injustice and a violation of the principles of equity and national inclusion.
This was contained in a statement jointly signed by the association’s communication officer, Emmanuel Omadivi and the Media officer, Lagos zone, Ade S Adesokan.
The association said following a circular issued by the National Salaries, Incomes and Wages Commission (NSIWC) on 8th July 2024 (SWC/S/04/S.557/T/171), PTAD re-implemented the 2019 CPA for pensioners under the Defined Benefit Scheme, using the Grade Level model rather than the previously adopted Pay Band structure.
The body said the realignment led to pension increases of 20% and 28% for many retirees, but pensioners from defunct agencies, notably NICON Insurance were entirely left out of this reassessment.
The association said the exclusion by the Pension Transitional Arrangement Directorate was based on the claim that the NICON ex-staff do not fall within the listed salary structures of eligible agencies.
“According to these agencies of government, NICON Insurance and the other so-called defunct Parastatals were receiving super salary structures when in operation. NICON Pensioners have argued that the same government that sold these Parastatals during the privatization exercise also thought it fit to payroll them for pension, pointing out that there’s nowhere
“In the Nigerian constitution where Pensioners are discriminated against that will warrant this apartheid and illegal form of selective treatment. In announcing the wage award, the pensioners of NICON Insurance noted that the President didn’t indicate exclusion of any agencies,” the statement said.
The pensioners viewed “the current action of misguided government super civil servants as a jealous and cruel decision,” asserting that they served their country under full Federal Government’s Agency employment in a now- defunct but once-vital institution that was a major subscriber to Federal Government shares.
The body called on Tinubu to show respect for pensioners, noting that his government has championed various reforms and improved welfare for ordinary Nigerians.
The association expressed hope that the government will urgently intervene to correct this exclusion and restore confidence in the nation’s pension system.
In its reaction to the development, PTAD through its head, Corporate Communication, Mr. Gbenga Ajayi stated that NICON insurance ex staff were not part of the N32,000 pension adjustments and the Directorate had earlier met with them to explain.
“NICON Insurance staff are not part of the adjusted increment as directed by the federal government because they are on a special Pension. In fact they are not the only ones affected. NITEL, MTEL, NEPA are also part of those not enlisted to benefit from the increment and there is a circular in that regard which the NICON insurance ex-staff have in their possession.
“PTAD cannot go against the directive of the federal government and we have explained all these to them,” he said
