First Bank pensioners protest alleged poor remuneration in Osun

Retirees of First Bank Plc on Wednesday staged a peaceful protest in Osogbo to demand an upward review of their pensions and improved welfare from the bank.

The pensioners, who gathered in large numbers, blocked the entrance of the First Bank branch on Station Road as they called for their monthly pensions to be increased from the current ₦15,000 to ₦120,000. They also demanded that their annual medical allowance be raised from ₦30,000 to ₦500,000.

The protesters carried placards with inscriptions such as: “SOS: ₦300bn Pension Trust Fund disappeared since 2014,” “₦15,000 pension per month is wicked,” “₦30,000 yearly medical allowance is cruel,” “We are dying in droves due to poor pension and medication,” “Bring back Oba Otudeko and Onasanya to account for pensioners’ funds,” and “FBN pensioners are the poorest paid in the finance industry.”

Addressing journalists, the state chairman of the forum, Mr Omotayo John, lamented the conditions the retirees have been subjected to, describing the treatment as unfair and harmful to their wellbeing. He said many of the pensioners had suffered severe hardship as a result of the poor remuneration.

Omotayo, who read a statement signed by the national chairman of the forum, Pastor John Gimbason, condemned what he described as the “inhuman attitude” of the First Bank management. He said several appeals for an upward review of pensions and medical allowances had gone unanswered.

The retirees called on First Bank to show empathy and reconsider its position by reviewing the payout structure to reflect current economic realities. They urged the bank’s management to return to the negotiation table and adopt a fair template that would guarantee the welfare and dignity of those who served the institution with “loyalty and dedication.”