Pension Fund Limited to pay N500m to NNPC pensioners who retired prior to 2004.
Justice Maureen Esowe gave the order while delivering judgment in a case filed by one Mr. Moshe Amaechi and three others on behalf of the pre-2004 retirees of the NNPC, according to a report by the News Agency of Nigeria.
The claimants instituted the suit in December 2011 to challenge the non-payment of their reviewed pension arrears as approved by the NNPC Board in 2009.
They urged the court to declare that the said N500m was meant for the ex-workers, who retired on or before December 31, 2004.
The claimants also prayed the court to order the defendant to pay the said amount to all the pensioners who retired from the NNPC on or before that date.
NAN recalls that during the hearing of the case, the defendant submitted that the claimants did not represent the interest of all the affected retirees.
The NNPC counsel, Ms. Olufunke Aboyade, had urged the court to dismiss the suit on the grounds that the claimants had no common interests and grievances.
She also urged the court to hold that the claims were not beneficial to all the retirees.
In his argument, the claimants’ counsel, Mr. Adeleke Agbola, submitted that the money was meant for the pensioners, who retired prior to 2004, and not for all the pensioners as alleged by the defendant.
Agbola also argued that the defendant had no constitutional right to tamper with the claimants’ pensions as approved by the relevant authority.
In her judgment, the judge held that the issue before the court for determination was whether the claimants had legal standing to institute legal action against the defendant.
