In August, the Lagos State Government paid ₦2.02 billion in retirement payments to 644 pensioners.
This information was disclosed at the ceremony on Wednesday in Lagos for the presentation of the 101st retirement bond certificate, which was well-attended by state pensioners.
The Lagos State Pension Commission's Director-General, Mr Babalola Obilana, remarked during the occasion that the retirement bond certificates signified more than simply cash incentives but also the city's confidence in its retirees.
“Today, the administration of Governor Babajide Sanwo-Olu will present another set of 644 retirees with a sum of N2.02bn only, being their past service benefits before the commencement of the Contributory Pension Scheme in 2007,” he said.
The certificates, he claimed, were proof of their long-lasting influence.
“Your dedication has been the bedrock of the ‘goal of a greater Lagos’, and your hard work has set a high standard for those who will carry the state forward,” he said.
The retirees received praise from the director-general for their outstanding services and devotion.
He also expressed his gratitude to Sanwo-Olu for maintaining the regular payment of pension obligations to its pensioners.
He claimed that Sanwo-Olu had prioritized the welfare of the public service workers even after retiring and had demonstrated a strong dedication to the CPS's objectives.
“This retirement bond certificate presentation ceremony is not just a formality; it is a moment to reflect upon the remarkable contributions you all have made,” the director-general said.