The Lagos State government on Friday said it had paid about ₦126 billion to 29,518 retirees since the inception of the Contributory Pension Scheme (CPS) in 2004.
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| Babajide Sanwo-Olu, Governor of Lagos State |
Gov. Babajide Sanwo-Olu of Lagos State, represented by Mrs Folashade Jaji, Secretary to the State’s Government (SSG), said this while delivering a keynote address at the 98th Batch Retirement Bond Certificate Presentation to the state’s retirees.
The event was organised by the Lagos State Pension Commission (LASPEC) in Lagos.
Sanwo-Olu said: “The Lagos State government has paid 125,996,687,159.13 to 29,518 retirees since the advent of CPS and ₦47,050,805,734.16 to its retirees since the inception of my administration.
“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.
“This event is a landmark occasion as the number of retirees and the amount to be paid is the single largest we have paid since the inception of the CPS in Lagos State.
“We are not unaware of the backlog in the payment of accrued rights but we are focused on the intentional and strategic eradication of this backlog.
“Lagos State emerged as the top performer in pension payments among other quality indices of the CPS this year.”
According to him, the state through LASPEC is assiduously working on its administration’s goal to ‘pay as you go.’NAN
