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Gov. Sanwo-Olu Pays N1.5 Billion into Savings Accounts of 421 Pensioners

Governor Babajide Sanwo-Olu has paid the sum of N1.5billion into the saving Accounts of 421 Pensioners in the state to underline his commitment to the welfare of retirees.

The Governor, spoke at the 90th Mega Bond presentation ceremony held recently at Radio Lagos Marquee, Agidingbi, Ikeja, noted that the gesture will ensure retirees live comfortable lives after meritorious service to the State, while adding that he will continue to support and assist all retirees of the State Public Service.

“The State Government will continue to ensure that Public Service retirees do not only get what is statutorily due to them but will also continue to receive additional support and assistance that will add value to their lives in retirement.

“I will continue to run an open government of inclusion that will ensure no one is left behind no matter your gender, sex, tribe or special needs. As long as you reside in Lagos, we will make Lagos work for you”.

Sanwo-Olu, represented by the Commissioner for Establishments, Training and Pensions, Mrs. Ajibola Ponnle, also revealed that the government has successfully credited the Savings Accounts of 8,707 retirees drawn from the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other Parastatals with N34.1 Billion since the inception of his administration.

“I am delighted to inform you that another set of 421 Retirees will smile home today with the sum of N1.5 Billion”, he added.

The Governor affirmed that Lagos has continued to be the leading light, not only in the administration of pension benefits but in other areas pertaining to good governance in Nigeria, imploring the retirees to always contribute their quota to the progress and development of the State.

Mr. Yinka Ogundinmu, Vice-Chairman, Lagos State House Assembly Committee on Finance, said the House has decided to review the law affecting retirees so that it becomes convenient for workers in the public service to secure all necessary documents for the payment of their pension benefits before retirement.

Earlier, the Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, reiterated that the State government is consistent in prioritising pension payments in the State’s Annual Budget in order to ensure that public service retirees are financially free.

“Last year, LASPEC launched the Retirement Savings Account (RSA) Transfer System (transfer window) by the National Pension Commission, which permits RSA holders to transfer their accounts from one Pension Fund Administrator (PFA) to another once a year”.

“This year, the Commission is facilitating the review of the Lagos State Pension Reform Law to eradicate bottlenecks in the processing of retirement documents and hasten access to pension benefits. This is in line with our commitment to the provision of first-class services to our retirees, who gave their best to the development of our dear State”, the Director-General said.

Obilana, therefore, enjoined retirees not to yield to unscrupulous individuals claiming to have access to LASPEC so as to facilitate their bond certificate, stressing that LASPEC maintains an open door policy.

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