Lagos pays N1.3bn to another set of retirees

Sanwo-Olu to react to Army statement later, Govt source assures
Governor Babajide Sanwo-Olu of Lagos State.

The Lagos State Government has paid, more than N1 billion into the Retirement Savings Account (RSA’s) of 246 retirees in the state’s public service for October.

Mr Babalola Obilana, Director General, Lagos State Pension Commission (LASPEC), made the diaclosure in a statement on Sunday in Lagos.

“A total of one billion, three million, three hundred and seventy-four thousand, three hundred and seventy-two Naira, sixty-eight kobo was paid,” Obilana said.

He explained that the beneficiaries, included employees from the mainstream service, Local Government Service, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals of the state government.

RELATED:  Obasanjo distances self over allegation of land grabbing in Ogun

According to him, Gov. Babajide Sanwo-Olu has consistently paid the monthly entitlements of retirees and backlog of some unpaid pension inherited from previous administrations.

The director-general congratulated all the retirees for rendering meritorious service to the state.

READ ALSO: Nigerian Youth storm Sokoto for African, National Youth Day Celebration

Obilana said that  in spite of the state of the nation and aftermath of the global COVID-19 pandemic, the state government in line with the vision of a greater Lagos and its commitment to financial freedom for the state’s retirees, ensured the payment of pension entitlements.

RELATED:  Mali lost in transition as army expands role after coup

“This shows the commitment of Gov. Sanwo-Olu to the welfare of the pensioners in the state,” he said.

The director-general enlightened the retirees on the two payment options available for accessing their monthly pension entitlements which is the Programme Withdrawal and Life Annuity.

RELATED:  Driver absconds with boss’ car, put it up for sale

He urged the retirees to understand the details of the two options and choose the most appropriate option suitable for their situation. (NAN)

Vanguard

The post Lagos pays N1.3bn to another set of retirees appeared first on Vanguard News.

 163 Downloads

Receive Updates

No spam guarantee.

I agree to have my personal information transfered to GetResponse ( more information )