The Lagos State Government said it has disbursed a total of N4.48 billion to another set of 1,455 retirees on Thursday as accrued pensions for the month of March.
This payment occurred at the event of the 104th retirement bonds certificate presentation, arranged by the Lagos State Pension Commission (LASPEC).
During the 103rd retirement bonds certificate presentation in February, where LASPEC disbursed N3.2 billion in accrued pensions to 1,013 retirees, Governor Babajide Sanwo-Olu committed to disbursing at least N4 billion in the following month.
The governor guaranteed that to settle all outstanding accrued pensions before mid-year, the state government would disburse an additional N3 billion in April.
- “While we acknowledge the backlog in the payment of accrued rights, our attention is focused on systematically eliminating the backlog,’’ Sanwo-Olu said in February.
LASG cleared retirement backlogs
Subsequently, Mr. Babalola Obilana, LASPEC’s Director-General, announced during Thursday’s event that the released funds were allocated to civil servants retiring before the 2007 start of the Contributory Pension Scheme.
Obilana lauded Sanwo-Olu for his unwavering commitment to the welfare of the people of Lagos State.
He mentioned that the governor had kept his word by settling all pension arrears and guaranteed that by mid-2024, retirees in Lagos State would receive their entitlements immediately upon leaving service.
- “On behalf of Gov. Sanwo-Olu and the entire Lagos State Government, I extend my heartfelt gratitude to all of you present at this memorable event.
- “Lagos State is thankful for your accomplishments and the enduring contributions you have made throughout your distinguished careers.
- “You have exemplified the values that define Lagos State – integrity, commitment, and excellence.
- “Your dedication and hard work has contributed to the dream of a `Greater Lagos’. You are a source of inspiration for us all. Your legacy will undoubtedly continue to resonate within the public service,’’ Obilana said.
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For his part, Speaker, Lagos State House of Assembly, Hon. Mudashiru Obasa, promised that lawmakers would continue to support legislations to further improve the lives of pensioners.
Obasa, represented by the Chairman, House Committee on Establishments, Training, Pensions and Public Service, Hon. Oladele Ajayi stated that Lagos State is the only state in Nigeria that is committed to monthly payment of pension benefits.
He assured that by the month of May, outstanding accrued pensions owed by the state would be cleared.
- “All we want is your trust and support for this administration to thrive. Be assured that we will not fail you,’’ he said.
