Ekiti varsity explains pension delay, says N4.88bn spent on retirees since 2021

Omojola said the university had committed substantial resources to its pension and gratuity responsibilities over the past five years, with expenditure reaching N4.88bn since 2021.

The figure comprises N205.069m spent on death pensions, N570.693m on gratuities, N165.094m on pension arrears and N3.939bn on monthly pension payments.

The Vice-Chancellor said the figures demonstrated the institution’s efforts to meet its obligations to former members of staff despite its financial challenges.

He stressed that the university remained concerned about the welfare of its retirees, noting that pensioners had contributed significantly to the development of the institution during their years of service.

“Management remains sensitive to the plight of our pensioners. We acknowledge their years of service and sacrifice to the university. We assure them that their welfare remains a top priority,” Omojola said.

He disclosed that the university had held discussions with the executive members of the retirees’ association before the protest to explain the financial and administrative difficulties affecting the payment process.

“Prior to the protest, management engaged the EXCO of the retirees association and explained our current challenges. It is regrettable that this did not prevent the action taken,” he said.

Omojola appealed to the pensioners to remain patient while the outstanding payments were being processed.

He also urged members of the public to disregard reports suggesting that the university had abandoned its pension responsibilities, maintaining that management was taking steps to clear the current backlog.