Lagos State Government Issues Retirement Bond Certificates Worth N1.5bn to Retirees

Lagos State Government has issued Retirement Bond Certificates worth N1.5 billion to another set of Retirees. 

The Commissioner for Establishment, Training and Pensions, Mrs Ajibola Ponnle, disclosed this during the presentation of the 66th retirement benefits bond certificates to retirees in the state public service in Lagos on Friday.

She also disclosed that Lagos State Government in the last three months has paid N2.75bn to retirees and when you add this new N1.5bn, it’s makes a total of N4.25bn accrued pension benefits which Lagos State has paid to its retirees under the Contributory Pension Scheme since the inception of the new administration of Lagos State Governor, Babajide Sanwo-Olu.

The Head of Service, Hakeem Muri-Okunola, said ,the high premium that the state government places on the welfare of its members of staff, serving and retired public servants alike, is a conscious and deliberate policy which underlines its recognition and appreciation of the crucial contributions of its workforce to its widely acknowledged leadership position and status as the centre of excellence.

He commended the Lagos State Pension Commission for its commitment to the successful implementation of the state government’s policy objectives towards achieving a seamless pension administration system in the state.

The Director-General, Lagos State Pension Commission, Folashade Onanuga, assured the retirees that the government’s interest in the wellbeing of the retirees was paramount. She also said that the state governor, runs a people oriented government and also sensitive to the yearnings of the populace.

She said the accrued pension rights, being the entitlements of the retirees under the discontinued ‘Pay-as-you-go pension scheme’ would be remitted into their Retirement Savings Accounts from the mainstream service, local governments, SUBEB and the teaching service commission.

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