Court adjourns CBN pensioners’ suit to Oct. 15

LAGOS — Justice Alexander Owoeye of the Federal High Court sitting in Lagos has adjourned until October 15, 2026, further hearing in a suit filed by pensioners of the Central Bank of Nigeria (CBN) over the implementation of court judgments on their retirement benefits.

The pensioners are seeking enforcement of previous judgments relating to the harmonisation of their retirement benefits pursuant to a 1997 Federal Government policy.

The plaintiffs contend that the CBN has failed to fully implement the pension adjustments and arrears arising from the judgments.

At the resumed hearing yesterday, another group of CBN pensioners filed a motion seeking to be joined as parties in the suit.

The group alleged that it had been excluded from a 15 per cent pension increase approved by the Federal Government.

They further alleged that the increase was withheld from them after they declined to accept a disputed out-of-court settlement agreement reportedly presented by the CBN.

The applicants also contended that several of the original litigants had died or become elderly without receiving their full entitlements.

At the hearing, Justice Owoeye informed the parties that he would not entertain any contentious matter and adjourned the case until October 15, 2026.

The pensioners were represented by a team led by Adebayo Oyagbola and E. Oghagbon, while the CBN and other defendants were represented by E. Omoboriowo, Ekuma Chinanso and another counsel.

Background

The pensioners had secured judgments in their favour at the Federal High Court in 2000, the Court of Appeal in 2006 and the Supreme Court in 2010.

Following what they described as repeated unsuccessful efforts to secure compliance with the court orders, the pensioners commenced enforcement proceedings against the CBN in 2022, alleging non-compliance with the judgments.

The CBN, however, maintained that it had complied with the judgments and, among other issues, challenged the locus standi of the pensioners to institute the enforcement proceedings.

The apex bank subsequently filed a preliminary objection to the enforcement proceedings.

During the enforcement proceedings, the court issued subpoenas directing the CBN to produce documents relating to pension payments and reviews.

The pensioners alleged that the CBN failed to comply with the subpoenas, following which the court made contempt orders against the bank. The CBN appealed against the proceedings and the contempt orders.

While the appeal was pending before the Court of Appeal, the CBN subsequently presented what was described as a “Settlement Agreement” to the pensioners.

According to the applicants seeking to be joined, the agreement required pensioners to acknowledge the CBN’s alleged compliance with the earlier judgments and excluded those who declined to accept the agreement from a subsequent 15 per cent pension increase.

The matter was eventually remitted to the Federal High Court for consideration and determination of the CBN’s preliminary objection.

At that stage, the separate group of pensioners applied to be joined in the proceedings.

Among other reliefs, they are asking the court to determine whether the CBN’s actions in issuing and administering the disputed settlement agreement were lawful and consistent with the subsisting judgments and the court’s enforcement jurisdiction.

They are also asking the court to determine the legality of requiring pensioners to acknowledge compliance with the earlier judgments as a condition for benefiting from subsequent pension reviews, and of excluding those who declined to make such an acknowledgment from the reviews.