Adamawa Pension Board seeks N18bn
Adamawa State Pension Board has requested for increased funding for installment payment to enable it offset N18 billion outstanding gratuity payments to retired civil servants in the State.
The Executive Chairman of the Board, Mr Thomas Madi requested that the State House of Assembly should increase the monthly allocation currently being given for clearing of the gratuities, from N50 million to N350 million, to enable it fully settle the N18 billion liability within four years.
Thomas Madi, who made the request while receiving the Adamawa State House of Assembly Standing Committee on Public Petition Public Service and Electoral Matters, also requested for approval to implement the newly revised minimum monthly pension rate of N7,000, as against the current N4,000 per month.
The Chairman of the House Committee, Hon Wilberforce Dangolok, responded that the committee visited the pension Board to get acquainted with its operational challenges. He also assured the Board that the House of Assembly was ready to assist them to ensure speedy settlement of outstanding gratuities of pensioners and review of the minimum monthly pension rate.