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Lagos pays N720.4m to retirees

The Lagos State Government paid N720.445m into the Retirement Savings Accounts of 190 Contributory Pension Scheme retirees from the state’s public service last month.

According to a statement from Lagos State Pension Commission, while addressing the retirees at the 54th retirement benefit bond certificate presentation, the Commissioner, Ministry of Establishment, Training and Pensions, Dr Akintola Oke, said 9,591 retirees had accrued rights of N39.450bn paid into their RSA in the last 37 months (August 2015 – August 2018.)

Akintola said pensioners were always on the payroll priority of Lagos State every month, and that the state was pleased that it had cleared the backlog that existed at the beginning of the administration of Governor Akinwunmi Ambode.

The Director-General, LASPEC, Mrs Folasade Onanuga, appreciated the retirees for their contribution to the development of the state and assured them of the governor’s commitment to their welfare in retirement.

She advised the retirees to spend wisely in retirement.

“Any project you know you cannot finish, don’t put your money into it,” she told them.