The Federal Government has approved the issuance of a N758 billion bond to settle inherited pension liabilities dating back to 2007. The move follows a decision to use a N75 billion bond as part of the broader financial strategy to address long-standing obligations.
The bond issuance is part of a larger financial restructuring plan aimed at resolving accumulated pension debts. The government has confirmed that the N758 billion figure includes both the initial N75 billion bond and additional funds allocated for the settlement. The liabilities were inherited from previous administrations and have remained unresolved for over a decade.
This marks the first major financial intervention of its kind in the country’s history. The decision comes amid growing pressure from pension funds and stakeholders who have long called for a resolution. The government has not yet released details on the timeline for repayment or the specific institutions involved in the settlement process. The move is expected to provide immediate relief to affected beneficiaries while setting a precedent for future financial accountability.
