The Bamidele Olumilua University of Education, Science and Innovation, Ikere Ekiti, has described the delay in the payment of retirees’ pensions, saying it remains dedicated to satisfying its pension and gratuity obligations.
The university’s Vice-Chancellor, Prof Andrew Omojola, stated the organization was presently behind on its August 2026 pension payment and had actually only shared of the July commitment.
He associated the delay to monetary restrictions and a technical upgrade to the payment gateway being performed by the university’s lenders.
The explanation followed a protest by some pensioners of the organization on Monday, September 14, over the delay in receiving their pensions.
In a statement issued in Ikere Ekiti on Wednesday, Omojola acknowledged the demonstration and stated the university comprehended the concerns of the senior citizens.
According to him, the exceptional August pension was anticipated to be paid by Friday, September 19, 2026, while efforts were also being made to settle the staying 50 percent of the July pension within the same duration.
He stated the university had actually preserved routine monthly pension payments and explained the August hold-up as an unusual incident for the organization.
“This delay is not deliberate. Management is working assiduously and is hopeful that payment for August 2026 will be made on or before Friday, 19th September, 2026,” he said.
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Omojola said the university had actually devoted substantial resources to its pension and gratuity obligations over the past 5 years, with expenditure reaching N4.88 bn given that 2021.
The figure comprises N205.069 m invested in death pensions, N570.693 m on gratuities, N165.094 m on pension financial obligations and N3.939 bn on month-to-month pension payments.
The Vice-Chancellor stated the figures showed the organization’s efforts to fulfill its obligations to previous members of personnel despite its monetary difficulties.
He worried that the university remained concerned about the welfare of its retired people, keeping in mind that pensioners had contributed substantially to the advancement of the organization during their years of service.
“Management remains conscious the predicament of our pensioners. We acknowledge their years of service and sacrifice to the university. We ensure them that their welfare stays a top concern,” Omojola stated.
He divulged that the university had actually held discussions with the executive members of the senior citizens’ association before the protest to describe the monetary and administrative difficulties affecting the payment process.
“Prior to the protest, management engaged the EXCO of the retired people association and described our present difficulties. It is regrettable that this did not avoid the action taken,” he said.
Omojola appealed to the pensioners to remain patient while the exceptional payments were being processed.
He also urged members of the public to neglect reports recommending that the university had abandoned its pension responsibilities, preserving that management was taking steps to clear the current stockpile.