The Management of the Bamidele Olumilua University of Education, Science and Technology (BOUESTI), Ikere-Ekiti, has assured its retirees that their outstanding August 2026 pension will be paid on or before Friday, September 18, 2026.
This clarification follows a protest staged by some retirees on Monday, September 14, 2026, over delayed pension payments.
In a statement signed by the Vice-Chancellor, Prof. Andrew Babatunde Omojola, the Management stated that the delay was not deliberate but was due to inadequate funds and a technical upgrade of its bank’s payment gateway.
The Management clarified that: The University currently owes its retirees the August 2026 pension in full, and 50 per cent of July 2026 pension is also outstanding.
The Management disclosed that it had planned to settle the outstanding 50 per cent of July pension alongside the August payment to reduce hardship faced by retirees.
It stressed that the delay in August payment was an unusual development, noting that the University has consistently met its pension obligations over the years.
Between 2021 and June 2026, the University has expended a total of *₦4.88 billion* on pension and gratuity obligations, broken down as follows:
– ₦3.94 billion – Monthly pension payments
– ₦570.69 million – Gratuities
– ₦205.07 million – Death pensions
– ₦165.09 million – Pension arrears
– TOTAL: ₦4.88 billion
The Management further disclosed that it engaged the executive members of the Retirees Association before the protest, where the financial and technical challenges facing the institution were explained.
While regretting that the engagement did not prevent the protest, Management reaffirmed its concern for the welfare of its retirees and recognised their years of meritorious service and sacrifice to the University.
BOUESTI appealed to retirees to remain calm as it concludes the payment process.
It urged members of the public and the media to disregard reports suggesting that the institution has abandoned its pension obligations.
The University reiterated its commitment to resolving all outstanding payments and ensuring that the welfare of its pensioners remains a top priority.
