Lagos pays N1, 080b Accrued Pension Rights

L-R: Mrs. Folasade Onanuga(Director General LASPEC) presenting bond certificate to one of the  retirees.
L-R: Mrs. Folasade Onanuga(Director General LASPEC) presenting bond certificate to one of the retirees.

The Lagos State government has issued Retirement Benefit Bond Certificates for a total sum of N1, 080 billion to 260 retirees from the Mainstream, Local Government, SUBEB, TEPO and Parastatals of Government, under the Contributory Pension Scheme for the Month of April, 2016.

The fact that this Administration commenced and has been able to maintain the trend of paying terminal entitlements of retired employees monthly since it started in August, 2015 is highly commendable. This payment has brought the number of retirees paid between August 2015 to April, 2016 to 3,069. The total accrued right paid by the State Government from the aforementioned month to date is N13, 701 billion.

During the presentation of the 26th Retirement Benefit Bond Presentation which took place between Thursdays 28th to Friday 29th April, 2016 at the LASPEC Office Premises, the Director-General, Mrs Folasade Onanuga advised the retirees to carefully take decisions on how the funds will be utilised.  She also advised them to be wary of Pension fraudsters who deceive retirees into believing  that there are balances to be paid to them and make demands on them. She reiterated the fact that in the not too distant future, all retirees will receive their entitlements.

In appreciation, one of the retirees, Mr. Animashaun Taoheed, prayed for His Excellency, Mr. Akinwunmi Ambode for his magnanimity. He said, since the Governor would not like to see those who had laboured for the State, suffer, likewise, God will not make him and his team, suffer. He also appreciated the workforce in the Lagos State Pension Commission.

 

Lawal, B. A.

Public Affairs Unit