Military veterans on Tuesday barricaded the entrance of the Military Pensions Board office in Kubwa, Abuja, in protest against what they described as an unfair pension adjustment formula that has allegedly reduced benefits approved for retirees by President Bola Tinubu.

The protesters, who blocked access to the premises with canopies and chairs from as early as 8:00 a.m., accused the board of implementing a payment formula that short-changed thousands of retired military personnel.

Armed soldiers were deployed to the area and prevented the demonstrators from entering the facility.

Leading the protest, Coordinator of the Veterans Association of Nigeria, Lt. Col. Innocent Azubike, said the pension adjustment method used by the board had triggered widespread anger among retirees because it failed to reflect the full benefits approved by the President.

According to Azubike, some retirees were paid only a fraction of the approved adjustment based on rank and years of service, while others received amounts that were allegedly inconsistent with the criteria outlined by the board.

He claimed that more than 90 per cent of military veterans were dissatisfied with the implementation process, alleging that payments were neither uniform nor transparent.

The veterans insist that the formula used to calculate consequential pension adjustments does not adequately mirror the salary increases granted to serving military personnel, leaving many retirees financially disadvantaged.

Tuesday’s demonstration comes weeks after retired military personnel staged a similar protest at the Ministry of Defence, demanding a review of their pensions following salary adjustments for serving members of the armed forces.