The Lagos State Government yesterday disbursed a total of N1.52 billion to another set of 798 retirees of the Lagos State Public Service.
The retirement bond certificates worth a total of N1,520,223,053.19 were presented at the 110th Batch Retirement Bond Certificate Presentation Ceremony at Alausa, Ikeja, on Monday
Speaking during the ceremony, the Director-General of the Lagos State Pension Commission (LASPEC), Babalola Obilana, said the gesture underscores Governor Babajide Sanwo-Olu’s commitment to ensuring retirees receive their entitlements without delay
He said Lagos operates a pay-as-you-go pension system, enabling prompt settlement once documentation is completed.
He said: “This ceremony is a testament to the commitment of the Lagos State Government towards the well-being and financial security of its workforce. It signifies the fulfilment of obligations under the Contributory Pension Scheme (CPS), ensuring that our dear retirees receive the retirement benefits they have worked hard for throughout their careers.
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