The Bamidele Olumilua University of Education, Science and Technology, Ikere Ekiti, says it is owing its retirees pension payments for August 2026 and 50 per cent of July, blaming the delay on funding constraints and a technical upgrade to its bankers’ payment gateway.

The university’s Vice-Chancellor, Prof. Andrew Omojola, disclosed this on Wednesday while responding to a protest staged by some pensioners of the institution on Monday, September 14, over the delayed payments.

Omojola said the university had not abandoned its pension obligations, assuring retirees that management was working to resolve the situation.

He said payment of the August pension was expected to be made on or before September 19, while the outstanding half of the July payment was also scheduled to be settled within the same period.

“This delay is not intentional. Management is working assiduously and is hopeful that payment for August 2026 will be made on or before Friday, 19th September, 2026,” the vice-chancellor said.

He attributed the delay to a combination of inadequate funds and the technical upgrade of the payment platform by the university’s bankers.

According to Omojola, the August delay was the first time the institution had failed to maintain its monthly pension payment schedule.

He said the university had spent N4.88 billion on pension and gratuity obligations since 2021.

The expenditure, he said, comprised N205.069 million for death pensions, N570.693 million for gratuities, N165.094 million for pension arrears and N3.939 billion for monthly pension payments.

Omojola said the management remained concerned about the welfare of its retirees and recognised their years of service to the institution.

“Management remains sensitive to the plight of our pensioners. We acknowledge their years of service and sacrifice to the university. We assure them that their welfare remains a top priority,” he said.

The vice-chancellor said the university had engaged the executive committee of the retirees’ association before the protest to explain the financial and technical challenges affecting the payments.

He expressed regret that the engagement did not prevent the protest.

Omojola appealed to the pensioners to remain calm while the payment processes were being completed and urged the public to disregard claims that the university had abandoned its pension responsibilities.

“We also urge the public to disregard any information suggesting that the University has abandoned its pension obligations,” he said.