Sanwo-Olu Disburses N1.5bn to 742 Lagos retirees
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In a show of gratitude for Sanwo-Olu’s tireless support for retirees, Agoro announced that, since May 2019, a total sum of N70,994,464,313.29 has been disbursed to 20,956 retirees from various state sectors, including mainstream government, local government, the State Universal Basic Education Board (SUBEB), and the Teaching Service Commission (TESCOM).
By Kazeem Ugbodaga
Lagos State Governor, Babajide Sanwo-Olu, on Thursday, disbursed a total of N1.5 billion to 742 retirees of the Lagos State Public Service.
This is part of the 109th Batch Retirement Benefit Bond Certificates Presentation Ceremony held at NECA House.
Lagos State Head of Service, Bode Agoro, disclosed this in his goodwill message at the event.
In a show of gratitude for Sanwo-Olu’s tireless support for retirees, Agoro announced that, since May 2019, a total sum of N70,994,464,313.29 has been disbursed to 20,956 retirees from various state sectors, including mainstream government, local government, the State Universal Basic Education Board (SUBEB), and the Teaching Service Commission (TESCOM).
Agoro further revealed that Sanwo-Olu would be disbursing an additional N1,534,797,309.32 to 742 retirees, an act he described as a testament to the governor’s commitment to the welfare of Lagos State’s senior citizens.
He emphasized Lagos State’s leadership role in the administration of the Contributory Pension Scheme (CPS) since its inception in 2007.
“Lagos State has maintained its leading role in the administration of the Contributory Pension Scheme and the payment of pension obligations to our beloved retirees,” Agoro said, underscoring the state government’s ongoing commitment to safeguarding the financial security of retirees.
Agoro also took the opportunity to highlight the success of the state’s pension administration. “Since the inception of CPS, the State Government has been diligent in ensuring the protection of your retirement benefits. We are committed to ensuring that you receive your income regularly at retirement.”
The highlight of the ceremony was the presentation of the Retirement Benefit Bond Certificates to the retirees, a symbolic gesture of appreciation for their years of service. “The bonds you have forged, the wisdom you have shared, and the legacies you have built will continue to inspire us,” Agoro remarked.
In a show of gratitude for Governor Babajide Sanwo-Olu’s tireless support for retirees, Agoro announced that, since May 2019, a total sum of N70,994,464,313.29 (Seventy Billion, Nine Hundred and Ninety-Four Million, Four Hundred and Sixty-Four Thousand, Three Hundred and Thirteen Naira, Twenty-Nine Kobo) has been disbursed to 20,956 retirees from various state sectors, including mainstream government, local government, the State Universal Basic Education Board (SUBEB), and the Teaching Service Commission (TESCOM).
Agoro further revealed that Governor Sanwo-Olu would be disbursing an additional N1,534,797,309.32 (One Billion, Five Hundred and Thirty-Four Million, Seven Hundred and Ninety-Seven Thousand, Three Hundred and Nine Naira, Thirty-Two Kobo) to 742 retirees, an act he described as a testament to the governor’s commitment to the welfare of Lagos State’s senior citizens.
Agoro reassured retirees that the state government remained steadfast in its efforts to implement policies and programs that support the welfare and well-being of senior citizens.
He expressed confidence that, one day, all current public servants would join the ranks of retirees, highlighting the importance of ensuring their welfare.
“I pray that God will continue to grant you good health to enjoy the fruit of your labour,” Agoro concluded.
“These certificates are a tangible reflection of the state’s dedication to ensuring your well-being in retirement, just as you dedicated your careers to the service of Lagos State,” Obilana said, addressing the retirees in attendance.
Obilana took a moment to commend Sanwo-Olu for his continuous efforts in ensuring the fulfillment of pension obligations, particularly through policies designed to enhance the lives of retirees.
“I would like to acknowledge and applaud Mr. Governor Babajide Sanwo-Olu and his administration for their constant support of pension obligations,” Obilana added.
The Director-General also expressed gratitude to the stakeholders involved in the successful implementation of the Contributory Pension Scheme, including the Pension Fund Administrators (PFAs) and Annuity Service Providers (ASPs).
The event also featured an informative session by Mrs. Makinde, who guided the retirees on how to promptly access their Retirement Savings Accounts. Obilana reassured the retirees that LASPEC remains available for any follow-up queries regarding their pensions.
Obilana congratulated the retirees, acknowledging their exceptional service and wishing them a fulfilling, healthy, and prosperous retirement.
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