Home News Sanwo-Olu approves N2bn as retirement benefits to retirees

Sanwo-Olu approves N2bn as retirement benefits to retirees

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Lagos State Government, led by Governor Babajide Sanwo-Olu, has approved the sum of N2.017 billion as retirement benefits to no fewer than 644 retirees in the state.

This was confirmed in a statement by the Director-General of Lagos State Pension Commission (LASPEC), Babalola Obilana, Naija News reports.

Speaking at the 101st batch Retirement Bond Certificate presentation for retirees, held in Alausa, Ikeja, yesterday, Obilana said the payment represented the retirees’ past service benefits prior to the NBN commencement of the Contributory Pension Scheme, CPS, in 2007.

While noting that the event was organised to celebrate a significant milestone and exceptional retirees who had dedicated their time, energy and talents to the service of Lagos State, Obilana said the bond certificates presented to the former civil servants symbolise more than just financial rewards.

His statement reads: “It is indeed an honour to recognise and commend the retirees’ hard work and commitment demonstrated throughout their years of service to Lagos State.

“This retirement bond certificate presentation is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made. Your unwavering dedication has helped to shape Lagos State into the Centre of Excellence it is today.

“These retirement bond certificates symbolise more than just financial rewards; they represent the trust and confidence we have in our retirees.

“They are a testament to the lasting impact you have made just as your dedication has been the bedrock of the goal of a greater Lagos State.”

On his part, Permanent Secretary, Lagos State Ministry of Establishments, Training and Pensions, Olawale Musa, commended Governor Sanwo-Olu for prioritising the welfare of the public service workforce even in retirement.

Musa advised the retirees to be prudent with their money and to be careful about choosing investment options.

He also admonished the retirees to feel free to reach out to LASPEC or to the ministry for any pension-related information or further clarifications.

“I applaud our retirees for their exceptional contributions and unwavering dedication to the development of Lagos State and pray that their retirement be filled with joy, fulfilment and new experiences,’’ Vanguard quoted Musa saying.

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