LASG Pays N2.017bn to 644 Retirees

Rebecca Ejifoma

Again, the Lagos state government has paid 644 retirees N2.017 billion for their service benefits.

The Director-General of Lagos State Pension Commission (LASPEC), Mr Babalola Obilana, divulged the figure at the 101st batch retirement bond certificate presentation ceremony on Wednesday.

According to Obilana, this payment is their past service benefits before the commencement of the Contributory Pension Scheme (CPS) in 2007.

“This Retirement Bond Certificate Presentation ceremony is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made.

“Your unwavering dedication has helped shape Lagos State into the “Centre of Excellence” it is today,” he acknowledged.

The LASPEC boss also noted that the Retirement Bond Certificates represent the state’s trust and confidence in its retirees.

He emphasised how their dedication has been the bedrock of the “Goal of a Greater Lagos”. Adding, he said, “Your hard work has set a high standard for those who will carry the state forward”.

Obilana, therefore, thanked the State Governor, Mr Babajide Sanwo-Olu, for working assiduously to ensure pension liabilities are paid consistently and first-class service to the retirees.

“He has shown great commitment to the ideals of the Contributory Pension Scheme (CPS) and has prioritised the welfare of the Public Service workforce even in retirement,” he added.

Obilana also appreciated the stakeholders, the PFAs/Insurance companies, for their efforts towards the success of the CPS.

While applauding the 101st batch of retirees for their contributions, the DG encouraged them to contact the commission afterwards for any pension-related information or further clarifications.