BY VICTOR AHIUMA-YOUNG

Pensioners of First Bank of Nigeria, FBN, have called on the management of the bank to review their pension upward, lamenting that their monthly pension is not commensurate with the economic reality and the fortune of the bank.

The retirees argued that whatever achievements and growth attained by the bank today were because of the foundation laid by workers, insisting that they were responsible for the wealth the bank is currently generating.

They lamented the disparity in their pension compared with that of their contemporaries in other banks. They argued that while a retired AGM in First Bank gets N50, 000. 00 as his monthly pension, his contemporary in Union Bank gets N350, 000.00 monthly.

At a press briefing in Lagos on developments in the association, the pensioners noted efforts by the association to dialogue with the bank’s management on better welfare and pension for its members. They noted that at a meeting held on November 29 at its headquarters in Lagos, the association inaugurated a caretaker committee that would conduct a credible, free and fair election in January 2013.