Nigeria's No. 1 pension information website

Kogi has paid ₦2.9bn pension and gratuities in Q1 2021

Kogi government said on Monday that it spent N2.9 billion on payment of gratuity and monthly pensions to its retired civil servants in the first quarter of this year.

The Commissioner for budget and economic planning of the state, Mr Asiru Idris, said this in a pension and gratuity payment report released to newsmen in Lokoja.

According to him, the money represents the total amount collected by retired civil servants as monthly pension and gratuity in the first quarter of 2021.

“For the month of January 10, 260 retirees received, the total amount of N868 million, while in February and March 10,307 and 10,356 retirees received a commensurate amount of N876 million and N883 million.

“The total amount received as monthly pension by the retirees for the first quarter of the foregoing year is N2,628,283,841.48,” he said.

Idris said the government also, within the same period, commenced an arrangement for gradual payment of gratuity of N100 million per month to retired workers.

According to him, a total of N300 million was paid as gratuity in the first quarter of the year under the new arrangement.

“The amount paid for pension, which is N2,628,283,841.48 and gratuity, N300,000,000 in the first quarter, all amounts to a total of N2, 928,283,841.48,” the commissioner explained.

According to him, the release of the report, detailing the payments to the retirees was in line with the government’s policy of transparency and accountability in the utilisation of public funds.

Source: Guardian

Leave a Reply

Your email address will not be published. Required fields are marked *

Chat
1
Need help?
Pension Talk
Thank you for visiting .
How may we help you?