Ekiti varsity spends N4bn on pension, gratuity in five years

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The Vice-Chancellor of Bamidele Olumilua University of Education, Science and Technology, Ikere Ekiti, Prof. Andrew Omojola, has reiterated the commitment of the university management to the welfare of its retirees.

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Omojola, who dismissed insinuations that the university had abandoned its pension obligations, said, “The university is currently owing pension for August 2026 and half of July. The delay is due to paucity of funds and a technical upgrade of our payment gateway by our bankers.”

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Some pensioners of the university staged a protest on Monday, September 14, over the delay in the payment of their pensions.

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In a statement made available in Ikere Ekiti on Wednesday, the VC, who said the university took note of the protest, assured the pensioners that the delay was not intentional.

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“This delay is not intentional. Management is working assiduously and is hopeful that payment for August 2026 will be made on or before Friday, 19th September, 2026.

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“We have also planned to pay the outstanding 50 per cent of July 2026 pension within the same period to alleviate the condition of our retirees. We have maintained consistent monthly pension payments and the August 2026 delay is the first occurrence.

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“For the records, the university has expended over N4 billion on pension and gratuity obligations since 2021,” Omojola stated.

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He gave the breakdown of the expenditure on pension and gratuity obligations over the five-year period as death pension, N205.069m; gratuity, N570.693m; pension arrears, N165.094m; and monthly pension, N3.939bn, totalling N4.88bn.

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The VC said, “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.

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“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.

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“We appeal to our retirees to remain calm while we conclude payment processes. We also urge the public to disregard any information suggesting that the University has abandoned its pension obligations,” Omojola said.

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