Home News Sanwo-Olu presents N3.1b to over 1,000 retirees

Sanwo-Olu presents N3.1b to over 1,000 retirees

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Lagos State Governor, Mr. Babajide Sanwo-Olu on Friday put smiles on the faces of pensioners in the state by presenting N3.1 billion to 1,013 highly dedicated retirees who had shown great commitment to the service of the people of the State.

He said the payment of N3.1 billion to retirees, alongside their monthly contributions which have already been remitted into their respective Retirement Savings Accounts with the Pension Fund Administrators (PFAs), is a testament to the unwavering commitment of his administration to the welfare and well-being of retirees.

During the 103rd Batch Retirement Bond Certificate Presentation Ceremony held at Anchor Events Centre, Agidingbi, Lagos on Friday, the governor said that the ceremony is a continued affirmation of the commitment of the Lagos State Government to the welfare of its workforce, both active and post-service.

Sanwo-Olu, who promised to pay another N4 billion to retirees next month, March, assured that the Lagos State Government through the Lagos State Pension Commission is assiduously working to ensure that Public Service retirees not only get what is due to them statutorily but also continue to receive, through other agencies and programmes, additional support and assistance that will add value to their lives in retirement.

He said: “Today’s event is a continued affirmation of the commitment of the State Government to the welfare of its workforce, both active and post-service. The Lagos State Government since the inception of the Contributory Pension Scheme has paid N138,093,194,007.15 to 34,178 retirees.

From left: Lagos State Head of Service, Mr. Olabode Agoro; Governor Babajide Sanwo-Olu presenting a retirement bond certificate to a retiree, Mariam Adetokunbo Eko; and Director General, Lagos State Pension Commission, Mr. Babalola Obilana during the 103rd Retirement Benefit Bond Certificate presentation ceremony at the Anchor Events Place, Lateef Jakande road, Ikeja, on Friday


“Since the inception of my administration, we have paid a sum of N56,551,761,900.88 into the Retirement Savings Accounts (RSAs) of 16,026 Retirees in the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other Parastatals of the State Government.

“As of today, my administration would have covered nearly half of the total payments made by previous administrations since the inception of the Contributory Pension Scheme in Lagos State. While we acknowledge the backlog in the payment of Accrued Rights, our attention is focused on systematically eliminating this backlog.

“I am pleased to announce that we have made substantial progress in this regard and I am confident that before the end of my tenure, our aspiration for a ‘Pay As You Go’ model will be realised.

“My administration will continue to run an open Government that acknowledges our diversity and promotes inclusion. I want to reaffirm that no matter your age, gender, sex, tribe or special needs, as long as you are an employee of the Lagos State Public Service, whether in active service or retired, your welfare and well-being are a top priority”.

The governor also noted that the state has continued to be the leading light, not only in the administration of pension benefits but generally in good credible governance.

He said: “We are a top performer in pension payments among other quality indices of the Contributory Pension Scheme. This was attested to at the Y2024 Africa Brand Awards and the Y2024 Africa Public Sector Leadership Awards where Lagos State Pension Commission won the Gold Award for Best Employee Welfare Pension Company of the Year and the Director General emerged as the Pensions Personality of the Year respectively.

“I congratulate the Director General and members of the Lagos State Pension Commission for your diligence and commitment to innovation, excellence, and professionalism. I charge you to keep up the good work and aim for greater accomplishment”.

Sanwo-Olu congratulated all the beneficiaries of the 103rd retirement benefit bond certificate and wished them God’s guidance and a better retirement life.

“I want to express my profound gratitude to the retirees who have dedicated their lives in service to our dear State. Your dedication, hard work, and sacrifice have contributed immensely to the growth and development of this great State. Your commitment to duty has not gone unnoticed, and today, we gather to honor you and express our deepest appreciation”, he said.

Earlier, the Head of Service, Mr. Olabode Agoro said the Retirement Bond certificates presented to the retirees are not just tokens of appreciation, but symbols of the State Government’s enduring gratitude and respect for the years of hard work and dedication the retirees have invested in the Public Service and the State, in general.

Agoro who urged the retirees to utilise the money given to them judiciously prayed that God would continue to give them a long life in good health and soundness of the mind to enjoy their benefits.

He said the Sanwo-Olu administration is truly grateful for the retirees’ hard work and recognised the need to protect their retirement benefits, noting that the incumbent government’s commitment to ensuring regular remittance of retirement benefits, as and when due, remains resolute.

Agoro said: “Indeed, I find it a thing of immense joy when issues relating to the welfare of senior citizens who have given their all in serving the State are highly prioritised, knowing full well that, we also will join them one day. We have all come together to honour and give back to these dedicated retirees whose dedication, hard work, and invaluable contributions to Public Service cannot be understated.

“I am happy to inform you that since the inception of the Contributory Pension Scheme (CPS) in 2007, Lagos State has maintained a leading role in the administration of the Contributory Pension Scheme and the payment of pension obligations to our beloved retirees.

“I wish to express my sincere appreciation to Mr. Babajide Sanwo-Olu, the Governor of Lagos State for placing huge premium on the welfare of staff of the State Public Service, both active and retired.

“I wish to extend my appreciation to the Director-General, Lagos State Pension Commission, Mr. Babalola Obilana and his wonderful team for their efforts geared towards putting smiles on the faces of our senior citizens”.

The Director-General of state Pension Commission, Mr. Babalola Obilana in his address commended the retirees for services to Lagos State and advised them to use their pensions judiciously.

He also praised Sanwo-Olu for his love and passion for retirees in the State

On behalf of the retirees, Mrs. Mariam Adetokunbo Eko, who praised the state government for taking care of pensioners, said she is a testament to how Governor Sanwo-Olu has worked tirelessly to make retirees comfortable in the State by paying their dues every month.

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