The Lagos State Government has disbursed retirement bond certificates worth ₦1.52 billion to 798 retirees under the Contributory Pension Scheme (CPS). The certificates were presented at the 110th Batch Retirement Bond Certificate Presentation in Alausa, Ikeja.
Director-General of the Lagos State Pension Commission (LASPEC), Babalola Obilana, said the move underscores Governor Babajide Sanwo-Olu’s commitment to prompt payment of retirees’ entitlements, adding that Lagos operates a pay-as-you-go pension system that enables quick settlement once documentation is completed.
Obilana urged beneficiaries to make prudent decisions with their funds. Beneficiaries, including Mrs. Funto Olaitan Aina and Mr. Olayinka Ramoni Alaka, praised the state government for the prompt disbursement. They described the payment as timely and impactful, contrasting Lagos’ efficiency with delays faced by pensioners in other states.
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