14th March, 2018
By Kazeem Ugbodaga
The Lagos State Water Corporation, LWC, has presented bond certificates worth N21,443,674.54 to five retirees who qualified for the accrued benefits in line with the pension scheme.
The Managing Director of the Corporation, Engr. Muminu Badmus handed the certificates to the beneficiaries who retired in 2016 during a ceremony at the Water House in Ijora, Lagos, Southwest Nigeria.
Badmus, who pointed out that the latest recipients were the 4th in the series, stated that so far, the Corporation had successfully settled the benefits of retired staff between 2015 and 2016, thereby putting the Corporation at par with the State Government in the payment of accrued pension.
While congratulating the beneficiaries, the Water Corporation boss who appealed to them to see themselves as ambassadors of the Corporation promised that he would continue to work to ensure that members of staff received their retirement benefits immediately they are leaving service.
He also said in March 2017, the Corporation paid N68 million in bond certificates to 36 retirees, while N20 million was paid to seven others in July and that in the third batch, seven persons received over N18 million in bond certificates in October last year.
Badmus said water production at the Iju and Adiyan Waterworks was being maximised and that very soon, the designed capacity of the facilities would be realised, thereby enabling the Corporation to increase water supply to residents.
In another development, the Lagos State Water Corporation has inaugurated its Service Intensive Mechanism, SIM, a successor to the Performance Enrichment Sustainability Programme.
During the ceremony, Badmus explained that like its forerunner, SIM was designed to appreciate individual efforts and performance towards improved service delivery and revenue generation for the LWC.
Pointing out that the State had been divided into eight regions, the Water Corporation boss said in addition to the individual reward, management had come up with additional reward which would be given to the highest performing region.
He announced that a N110,000 cash prize would be given to the highest revenue generating region, while the first and second runner-up would get N80,000 and N60,000 each.