Lagos Remits N22.7 Billion As Contributory Pensions

The Lagos State Government has so far remitted N22.7 billion as part of its contributory pension scheme to its staff, reveals the Commissioner for Establishment and Pensions, Mr. Babajide Sanwo-Olu.

He disclosed that the contribution was for 105,000 staff of the state government, adding that the money was paid to the six Pensions Fund Administrators, PFAs used by the government for the scheme.

Sanwo-Olu, who rendered an account of his stewardship in the last four years added that the state was the first in the country to pay part of the contributory fund as bonds to some retirees in October 2010 and February this year.

“We have remitted N22.7 billion as at today to the six PFAs. We remit on quarterly basis. Lagos State is the first state in the nation to pay the redemption bond to its retirees which amounted to N1.337 billion. 124 retirees are currently drawing from the bond on monthly basis,” he stated.

On his achievements, the commissioner said the state was the first to pay the new minimum wage of N18,780 to its staff which is higher than the approved minimum wage by the federal government.

On the new salary package for doctors and other health workers in the state, Sanwo-Olu disclosed that the state government would begin its implementation this month.

On training, he said “in the last four years, this administration has continued to maintain the high premium placed on training and re-training of its employees in order to ensure a virile, well informed, modern and effective Public Service.

“An enlightened workforce equipped with appropriate skills, competencies and knowledge has been delivering quality service to the public at large.

“In the last four years, this administration has through the Ministry sponsored over 35,000 officers, including teachers and doctors on In-Plant/Tailor made workshops both locally and internationally. The state government has continued to expose its officials to cutting edge training programmes towards improved service delivery,” he stated.