Oyo doubles gratuity payment to ₦1 billion monthly

The Oyo state government has doubled the gratuity payment to retirees and pensioners in the state to ₦1B from the former ₦500M to speed up payments.

This was revealed by the state government through its official ‘X’ handle, adding that the ₦1B will be divided between the state and the local government retirees.

In August the State Commissioner for Establishments and Training, Hon. Olusegun Olayiwola, announced that the state would pay retirees using an e-payment method, during a three-day data-capturing exercise for retirees at the Nigeria Union of Pensioners’ Building in Agbarigo, Onireke, Ibadan.

The Commissioner told the retirees that this will ensure a seamless and secured payment process, free from any potential disruptions.

Olayiwola disclosed that the initiative will involve capturing and validating retirees’ data from June 2014 to December 2014 and June 2019 to December 2019, to start off, while arrangements to capture other retirees promptly have also been made.

He assured pensioners that Governor Seyi Makinde is fully committed to fostering a mutually beneficial relationship with the Nigerian Union of Pensioners, Oyo State Chapter, and other relevant stakeholders to improve the lives of retirees and all citizens of the State.

Dr. Olusegun Abatan, the State Secretary of the Nigerian Union of Pensioners, Oyo State Chapter, underscored the advantages of e-payment for retirees, emphasizing its ability to enhance security, accuracy, and speed in the distribution of gratuities.

He lauded Governor Seyi Makinde for prompt disbursement of funds on gratuities since assuming office as the Governor of Oyo State in 2019.

During his closing remarks, the Permanent Secretary, Ministry of Establishments and Training, Mr Olajide Mamud Okesade expressed gratitude to Governor Seyi Makinde, the Head of Service, and the Commissioner for consistently and promptly disbursing Wage Awards to retirees and Civil Servants and other dividends.

He highlighted the benefits of e-payment, including increased security, faster access to funds, and the elimination of risks and elimination of delays associated with physical checks, such as theft or loss.