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Lagos pays N1.2b to 532 retirees with bond certifcate

By Samuel Ifetoye
03 March 2023   |   3:46 am
During the 99th Bond Presentation Ceremony at the Nigeria Employers Consultative Association (NECA) in Alausa, Ikeja, the Lagos State government presented N1.2 billion worth of bond certificates to 532 retirees.

Director-General of the LASPEC Mr Babalola Obilana

During the 99th Bond Presentation Ceremony at the Nigeria Employers Consultative Association (NECA) in Alausa, Ikeja, the Lagos State government presented N1.2 billion worth of bond certificates to 532 retirees.

At the ceremony, the retirees were presented certificates of their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.

The Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, admonished the retirees to be prudent with their money, urging them to enjoy their retirement lives in good health.

“In line with the ideals of the CPS, the administration of Governor Babajide Sanwo-Olu has worked assiduously to ensure the consistent payment of pension liabilities and first class service to our retirees. This administration is committed to improving the welfare of our senior citizens and has initiated various programmes to secure the financial freedom of our retirees.

“We are all here to celebrate your dedication and service to Lagos, your labour, while in the public service, has not been forgotten. Thank you for your contribution to the dream of a greater Lagos,” he said.

A retired permanent secretary from Lagos State Public Service, Mr. Biodun Bamgboye, expressed gratitude to the state government when he got his bond certificate after spending 35 years in service.

“I am more thankful today because I am present to receive my bond certificate. This is a reflection of Lagos government’s seriousness at ensuring that retirees get their rights as and when due.

“I am reaffirming that Lagos has come of age strongly on the payment of pensions to its retirees. You can see that there is consistency and the state has remained very strong on it. The Sanwo-Olu government has not failed us at a time many states are struggling to pay its retirees. I congratule the government, retirees and colleagues that have just got their certificates today,” he said.

An elated retiree, Clement Ajayi, who commended Lagos for the certificate, said his joy knew no bound.

“I thank His Excellency for the way he has been attending to retirees in Lagos. I am highly delighted that I got my bond certificate, which I had been waiting for. Now that the state has given me my certificate, it has added honey to my joy and that of my family members. Kudos to the Sanwo-Olu led-government. I pray he continues his good work and that God will be with him and work with him,” he stated.