Osun to pay N1.8b bond to pensioners

The Osun Government, on Friday said it would pay a sum of N1.8 billion bond to the state government workers, who retired under the Contributory Pension Scheme.
A statement signed by the Osun Head of Service, Dr Olowogboyega Oyebade in Osogbo, said no fewer than 210 civil servants would receive their bond certificates on Tuesday at the state secretariat.
Oyegbade explained that 171 state government retired workers and 39 from the local government service would receive their bond certificates totaling N1.6 billion and N200 million respectively.
He said that the money had already been deposited with the Central Bank and the Pension Fund Administrators for immediate payment.
Accordingly, Oyegbade said the state government had also released part payment of gratuities to 720 retired public servants under the old scheme.
According to him, few weeks ago, the state government released a sum of N40 million for a set of 400 pensioners in the state.
He said the sum was used for the payment of pension of 148 retired secondary school teachers, 250 retired civil servants and two retired government agency workers.
Oyegbade disclosed that N25 million, N14.8 million and N200, 000 were paid to the retired civil servants, teachers and agency workers respectively.