Aggrieved ex-employees of the defunct Arab Bank and Assurance Bank took to the streets of Lagos on Wednesday in a protest, accusing regulatory authorities of systemic neglect and pushing them into acute poverty.
The protest was held at the Pension Transitional Arrangement Directorate office at the old Secretariat within the premises of Tafawa Balewa Square, Lagos Island.
The senior citizens, representing roughly 1,020 affected staff nationwide, are demanding immediate intervention from the Federal Government over their exclusion from national welfare packages.
Despite a 20-year dispute since the banks’ liquidation, many of the retirees said they are currently receiving less than N10,000 monthly, a figure far below the nationally approved N32,000 minimum pension baseline.
The peaceful demonstration drew a crowd of elderly protesters wielding placards highlighting their daily battle for survival. Some inscriptions on the placards read, “Today, today, PTAD must answer us,” “20yrs on: No gratuities and retirement benefits. CBN,
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