By Ayodele Quadri, Lagos Times Correspondent
LAGOS, NIGERIA — Over 50,000 retirees under the Contributory Pension Scheme (CPS) in Lagos State, acting under the aegis of the Nigeria Union of Pensioners, Contributory Pension Scheme (NUPCPS), Lagos State Council, have issued a firm ultimatum to Governor Babajide Sanwo-Olu.
The senior citizens warned that if their accounts with their respective Pension Fund Administrators (PFAs) are not credited with the approved pension increase and wage award, they will stage a mass demonstration—termed the “Mother of All Protests”—across major roads in Lagos State on Monday, August 31, 2026.
Core Grievances Raised by the Pensioners
In a formal notification signed by NUPCPS Lagos Council Chairman Michael Omisande and delivered to the Governor, the Speaker of the House of Assembly, Mudashiru Obasa, and the Police Command, the union detailed their frustration with the Lagos State Pension Commission (LASPEC):
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Seven-Month Delay: A template for the approved pension increase was submitted to the state government in January 2026. Despite an actuary being engaged in February to evaluate the financial implications, no adjustments have been paid.
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Disparities in Treatment: The union noted that while retirees under the legacy Defined Benefit Scheme (DBS) and federal retirees have been receiving enhanced payments, CPS retirees in Lagos remain excluded.
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Economic Hardship: Retirees highlighted that monthly payments—ranging between ₦20,000 and ₦70,000 for many—are grossly inadequate to cover medical expenses and basic living costs amid persistent inflation.
“We have communicated a 19-day ultimatum to Mr. Governor to credit the accounts of pensioners on the pension increases/wage award, or incur the wrath of pensioners via protest action tentatively fixed for 31st August, 2026.”
— Comrade Michael Omisande, Chairman, NUPCPS Lagos State Council
