FirstBank takes pension settlement campaign to 6 cities

FirstBank has launched a nationwide roadshow to sensitise its legacy pensioners on an approved framework designed to resolve long-standing pension-related issues.

The roadshow, which began on August 18 and will run until September 3, 2026, will take the bank’s engagement to six locations — Lagos, Ibadan, Benin, Enugu, Abuja and Kaduna.

The Pension Settlement Framework is a one-off settlement initiative for eligible former employees who retired under the bank’s defined benefit pension scheme. It was developed in partnership with the Nigeria Union of Pensioners (NUP) under the guidance of the National Pension Commission (PenCom).

According to FirstBank, the initiative is intended to provide a final and sustainable resolution to pension-related matters raised by eligible legacy pensioners.

The roadshow will give pensioners an opportunity to obtain first-hand information about the framework, seek clarification on its provisions and benefits, and raise concerns directly with representatives of the bank and other relevant stakeholders.

Olumuyiwa Olulaja, Group Head, Human Capital Management & Development, FirstBank Group, said the initiative reflected the bank’s appreciation of the contributions made by its former employees.

“We value the immense contributions made by our pensioners to the growth and success of the institution over the years,” Olulaja said.

He added that the approved framework demonstrated the bank’s commitment to constructive engagement and its desire to resolve outstanding pension matters in a fair and transparent manner.

“The roadshow provides an important platform for direct interaction, enabling pensioners to gain a clear understanding of the framework and its benefits,” he said.

FirstBank said the programme was also part of its broader commitment to stakeholder engagement and maintaining sustainable relationships with its various stakeholders, including former employees who contributed to the institution’s 132-year history.

The bank urged pensioners and other relevant stakeholders in the six locations to participate in the sensitisation sessions and use the opportunity to engage directly with the bank and other parties involved in the settlement framework.

FirstBank also reiterated its commitment to the development and wellbeing of its workforce, saying it continues to invest in learning, career growth, leadership development and succession planning.

The bank said these efforts are supported by initiatives including FirstAcademy, its corporate learning and development platform, as well as leadership development programmes, its Graduate Training Programme and Technology Academy.