N1bn Paid To 219 Retirees In September, Says Lagos

 In Investor News

Lagos State has said it paid retirees N1bn as accrued pension rights for the month of September.

It said this in a statement on Sunday entitled ‘Lagos State retirees received over N1bn as accrued pension rights for September 2020.’

According to the statement, the Director-General, Lagos State Pension Commission, Mr Babalola Obilana, disclosed this at the recently concluded 79th batch retirement bond presentation ceremony.

The statement said, “The Lagos State Governor, Mr Babajide Sanwo-Olu, has once again fulfilled his promise with the payment of accrued pension rights of N1.004bn to another set of 219 retirees for the month of September.”

Obilana advised the retirees to understand the available pension programme options, namely the programmed withdrawal and life annuity, for their pension entitlements.

He urged the retirees to be prudent in spending and informed them that the commission would attend to retirees’ complaints and enquiries between 10am and 1pm daily.

The director-general thanked Sanwo-Olu for his commitment to the monthly payment to retirees despite the COVID-19 pandemic and its attendant effects on the resources of the state.

According to Obilana, the gesture from the governor was evidence of the present administration’s commitment to the prompt payment of pensioners’ entitlements as promised, and assurance of continuous improvement in the delivery of dividends of democracy in the state.

The statement said one of the retirees, a former Permanent Secretary of the Teaching Service Commission, Mrs Toyin Awoseyi, appreciated the administration on behalf of other retirees.

She also commended the management and staff of LASPEC for being proactive and efficient in the delivery of their duties.

https://punchng.com/n1bn-paid-to-219-retirees-in-september-says-lagos/

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