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Tuesday 04th August 2020,
Hope for Nigeria

299 retirees from Lagos get N1.2bn

The Lagos State g o v e r n m e n t y e s t e r d a y presented retirement bond certificates worth N1.2 billion to 299 retired civil servants under the state Contributory Pension Scheme, CPS. The bond certificates were distributed to the retirees at the NECA Building, Alausa in Ikeja by the Director-General, Lagos State Pension Commission, LASPEC, Rotimi Hussain.

The director-general said the N1.2 billion for the 299 civil servants was for the accrued rights for past service to the state prior to the commencement of the CPS in 2007.

He said with the payment of the money, the state had continued to set the pace for stakeholders in the pension industry, saying that the state had been the only state to have paid N22.7 billion to 4, 199 retirees who retired from the public service from inception of the CPS till date.

According to him, the government began the first presentation in October, 2010 when 102 retirees were paid N412.87 million as this had risen to 3, 900 retirees who had received N21.49 billion as at 2013.

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