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Lagos has paid over N34bn to 8,707 retirees under the CPS since 2019

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Lagos State Governor Babajide Sanwo-Olu stated the state government paid over N34 billion in pension due rights during his tenure.

According to News Agency of Nigeria, Sanwo-Olu revealed this on Saturday at the Lagos State Pension Commission’s 90th batch mega bond presentation for retirees.

Since this administration took power, 8,707 retirees have benefited from the Contributory Pension Scheme, according to the governor, who was represented by the Commissioner for Establishment, Training, and Pension, Mrs Ajibola Ponnle.

“The state government had paid a total of N34,124,218,387.60 into the Retirement Savings Account of Retirees in the Mainstream, Local Government, State Universal Basic Board, Teaching Service Commission, and other state parastatals as at the 89th bond presentation batch,” he said.

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In addition to their monthly payment for the month of November, Sanwo-Olu said the state government had contributed over N1.5 billion into the Retirement Savings Accounts of 421 retirees with their Pension Fund Administrators.

He stated that the state government, through LASPEC, would continue to ensure that public service retirees receive the benefits that they are legally entitled to.

The governor added that pensioners will continue to get additional support and assistance from other organizations and programs, which would add value to their life in retirement.


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