Tinubu Approves ₦758bn Pension Bond, Promises Minimum Guarantee for Retirees

President Bola Tinubu has approved a ₦758 billion Federal Government Pension Bond to clear accrued pension rights and strengthen the Pension Protection Fund. Speaking through Secretary to the Government of the Federation George Akume at the National Pension Week Leadership Summit in Abuja, Tinubu said pension payments are earned wages held in trust, not a government favour. The administration also plans to implement the Minimum Pension Guarantee under the Pension Reform Act 2014, which has not been activated since the law was passed. It further announced PenCare, a retiree wellbeing programme expected to provide essential healthcare access for low-income pensioners. Tinubu urged employers to remit workers' pension contributions promptly and directed pension regulators and fund managers to protect contributors' savings while expanding coverage to self-employed Nigerians, including traders, artisans and farmers.

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