N15,000 per month Can’t Buy Anything, We’re Dying in Droves, First Bank Pensioners Protest in Ibadan

Retired workers of the First Bank of Nigeria Plc, on Tuesday, expressed their dissatisfaction with the management of the bank over poor pension and pittance medical allowances.

The retirees, who staged a peaceful protest in front of Dugbe Main Branch of the bank in Ibadan, lamented that 80 per cent of them earn N15,000 monthly as a pension.

They said the current monthly pension is not in reality with the present economic situation of the country.

To press home their grievances, the ex-staff presented a letter of demand, containing their requests to the Head of the Southwest Regional office in Ibadan.

According to the retirees, the N25,000 monthly payment to the retired Regional manager and N15,000 to other categories of staff is no longer acceptable.

They, therefore, called on the management to do the needful by looking into and granting their various demands.

They urged the management of the bank to review their monthly pension and medical allowance upwards.

Speaking, the former National President of the First Bank of Nigeria Plc retirees, Prince Debo Olaoya said the issues had lingered for long, and must be addressed forthwith .

Olaoya said: “80 percent of FBN retirees are earning a monthly pension of N15,000 while those who retired as Regional managers are earning below N30,000 as monthly pension.

“These amounts, aside from being ridiculous, are not in reality with the economic situation in the Country. Several appeals have been made for upward review of the monthly pension but no result.

“What we are earning as a monthly pension is incomparable with what others in other banks collect as monthly pension.

“We have had several meetings in the past but the response is always that they will look into it. Our people are now fed up. Our members are dying in droves. They could no longer afford their medical bills. We are peace loving people. We are here to present a letter containing our demands to the management.”

Also speaking, Mr. Adekunle Ajibola called on the bank to increase their pension to N350,000 per month and N500,000 for annual medical care

Ajibola said: ‘’Some of us are bedridden, old and suffering from old age-related ailments. We are spending the money on hospital bills. We are demanding N350,000 per month and N500,000 for annual medical care. The account of our accumulated pension trust funds should be given to us’’.

Receiving the letter of demands from the protesters, one of the management staff who craved anonymity thanked the retirees for conducting themselves in an orderly manner. He assured them that their request would be presented to the appropriate authorities.