Lagos State Governor Akinwumi Ambode has released N838 million to pay accrued pensions to its retirees for February.
A statement by the Lagos State Pension Commission, signed by its Director-General, Folashade Onanuga, said that the amount was paid to 141 retirees under the Contributory Pension Scheme.
He gave the assurance that the payment of the accrued pension rights would continue monthly under the current administration.
Onanuga said: “The payment is well structured, transparent, efficient and based on the law of equity.
“I assured all the retirees that the Pensioners’ Identity Card is in progress and wilk be provided as soon as the necessary approval is obtained.”
Also in a statement, Dr. Benson Akintola-Oke, the state Commissioner for Establishments, Training and Pensions, said that N34, 781 billion had been paid into Retirement Savings Accounts of 8,548 retirees since 2015.
Akintola-Oke, who represented Ambode at the 48th Retirement Benefit Bond Certificate Presentation ceremony, implored retirees to put their money only in businesses they could manage.
Akintola-Oke said that the state government was committed to providing retirees with incentives that would give them peace in retirement.
He said: “Ambode focuses on payment of pensioners and other entitlements, and this has earned the state accolades.
“This priority is to eradicate poverty amongst the elderly in our society.”
Lagos settles N841m pensions
