791 Lagos retirees receive N3.5bn bond

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BY OLASUNKANMI AKONI

LAGOS—Lagos State government has disbursed over N3.5 billion as retirement bonds to 791 retirees in the state in last six months. Over N26, 216 billion has been paid to 4,990 retirees till date.

Director-General of the Lagos State Pension Commission, LASPEC, Mr. Rotimi Hussein disclosed this yesterday at the presentation of 11th Retirement bond certificate at Alausa Secretariat, Ikeja.
Hussein said that 437 of the total 791 retirees majorly drawn from local government councils and the State Universal Basic Education Board, SUBEB, were paid over N1.7 billion two months ago.

“Today, the remaining 354 retirees that complete the tranche of the 11th bond presentation will be receiving their retirement benefits. These beneficiaries will smile home with over N1.7bn being their accrued rights for past service to the state prior to the commencement of the Contributory Pension Scheme in April 2007.”

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