The Lagos State Government paid N1.2 billion to 532 retirees on Tuesday as their past service benefits before the 2007 launch of the Contributory Pension Scheme.
This was announced on Tuesday in Ikeja by Babalola Obilana, the director-general of the Lagos State Pension Commission.
He said this in Lagos at the presentation of the 99th batch of retirement bond certificates.
The retirees, according to Obilana, were employed by the state’s public service.
He declared: “In keeping with the CPS’s ideals, Governor Babajide Sanwo-administration Olu’s has worked tirelessly to ensure the consistent payment of pension liabilities and first-rate service to our beloved retirees.
“This administration is dedicated to enhancing the welfare of our senior citizens and has launched numerous programs to ensure our retirees’ financial independence.
“We are all gathered here to honor your commitment to Lagos State and your years of service; your work as a public servant has not gone unnoticed.
“We appreciate your support of the vision of a bigger Lagos.”
Obilana thanked the insurance companies, pension fund administrators, and other commission stakeholders for their tenacious efforts to ensure the CPS’s success.
Insisting that health is wealth, he urged the retirees to take excellent care of themselves.
The director general advised being frugal with your spending and prayed that God would give you a long life and good health so you could enjoy your retirement.
Abiodun Bamgboye, a retiree and former permanent secretary of the Lagos State Public Service, congratulated his colleagues and wished them success.
In addition, Bamgboye praised the state government for its reliability in honoring accrued pension rights.
The ceremony, in Bamgboye’s opinion, reflects Lagos State’s dedication to ensuring that retirees receive their benefits as and when due.
He claimed, “Lagos state has matured, is strong and virile to this course, and has not failed us.
