By Aisha Muhammad Magaji
Governor Siminal Fubara of River State has announced the dissolution of the state’s Pensions Board, citing the need to reform the administration of pension funds and improve the welfare of retirees. The decision was made official in a statement released by the State Government on Thursday.
According to the statement, the move is part of the governor’s broader agenda to ensure transparency, accountability, and efficiency in the management of pension funds.
“The welfare of our retirees remains a priority. To ensure that pension administration meets the highest standards of integrity and efficiency, it has become necessary to dissolve the current board and reconstitute it with individuals capable of implementing meaningful reforms,” the statement read.
Governor Fubara emphasized that the decision is not a punitive measure but a strategic step toward strengthening the state’s pension system.
The dissolution effectively terminates the tenure of all board members, who will step down immediately. An interim committee will be appointed to oversee operations and ensure that ongoing pension payments are not disrupted.
“The government is committed to ensuring that pensioners continue to receive their entitlements on time,” a senior government official assured.
Sources within the State Government revealed that the reforms will target several key areas, including:
- Digitalization of Pension Records: Ensuring that pensioners’ data is accurately maintained and accessible.
- Timely Payment of Benefits: Streamlining processes to prevent delays in monthly pension disbursements.
- Enhanced Oversight: Introducing rigorous auditing and monitoring mechanisms to prevent mismanagement.
- Stakeholder Engagement: Incorporating input from retirees, unions, and financial experts to shape sustainable policies.
Governor Fubara, who assumed office in May 2023, has consistently emphasized good governance, anti-corruption measures, and the improvement of public service delivery. The pension board reforms align with this vision.
News of the dissolution elicited mixed reactions from pensioners and workers’ unions in River State. While some retirees expressed optimism that the reforms would finally address delays and mismanagement, others voiced concern about potential disruptions in pension payments during the transition period.
“Change is welcome, but we hope the government ensures that our monthly stipends are not affected,” said Chief Emeka Okoro, a retired civil servant.
The Nigerian Labour Congress (NLC) in the state also issued a statement urging the government to prioritize continuity in payments and maintain open communication with retirees throughout the process.
Pension administration has been a critical issue across Nigeria, with delays in payments and allegations of fund mismanagement being reported in multiple states. The dissolution of River State’s Pensions Board is part of a broader national trend where state governments are seeking to improve oversight, efficiency, and transparency in the sector.
According to the National Pension Commission (PenCom), over 1.2 million retirees across Nigeria rely on timely disbursement of pensions for their livelihoods, highlighting the importance of effective governance and accountability.
Governor Fubara has pledged that a new, reconstituted board will be announced soon, comprising experts and professionals with proven track records in finance, administration, and social welfare. The government has also promised that public consultations will inform the final structure and mandate of the board.
“This is an opportunity to reset the pension system in River State and build a framework that truly serves our retirees,” Fubara said in a follow-up comment to journalists.
The dissolution of the board marks a significant step in the governor’s governance reforms, signaling a focus on efficiency, accountability, and the well-being of retirees in River State. Stakeholders and the public are now awaiting further details on the interim arrangements and the timeline for appointing new board members.
