Customs pays N7.61bn pension to 4,237 retired officers

The Nigeria Customs Service (NCS) has disbursed N7.61 billion to nine Pension Fund Administrators (PFAs) for the payment of retirement benefits to 4,237 retired officers.

The funds were released to the PFAs for onward payment into the individual accounts of the beneficiaries.

Premium Pension recorded the highest number of beneficiaries with 2,268 retirees, representing 53.5 per cent of the total. Access-ARM Pension Managers followed with 1,223 retirees, while Leadway Pensions had 403 beneficiaries.

TrustFund Pensions accounted for 156 retirees, FCMB Pensions had 144, Veritas Glanvills Pensions recorded 28, Norrenberger Pensions had 11, while Fidelity Pension Managers managed four beneficiaries.

The NCS, however, did not disclose the amount allocated to each PFA, noting that pension payments under the Contributory Pension Scheme vary based on factors such as rank, years of service and retirement benefits.

Speaking during a dialogue with retired Customs officers, the Comptroller-General of Customs, Adewale Adeniyi, said the release of the funds reflected the Service’s commitment to the welfare of its retirees.

“The Service must remain strong and financially capable of meeting its obligations to serving officers and retirees. The welfare of those who dedicated decades to the Service cannot be separated from the future of the institution,” he said.

Adeniyi also urged the retirees to maintain constructive engagement with the Service, assuring them that issues raised during the meeting would receive attention.

The dialogue was attended by the Deputy Comptroller-General in charge of Human Resources Development, Tijjani Abe, and other members of the management team, who pledged to address concerns raised by the retirees through the Service’s board and management processes.

The retired officers commended the Customs leadership for creating a platform for direct engagement and appealed for regular interactions to strengthen ties between serving and retired personnel.

The meeting comes amid ongoing efforts to improve pension administration following the Federal Government’s review of statutory provisions under the Pension Reform Act 2014 and relevant constitutional provisions.