Pension Funds Lagos releases N1.5 billion to another batch of 238 retirees

The Lagos State Government has approved the release of N1.5bn as pension payment to another batch of 238 retirees for the month of November.

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Folashade Onanuga, DG, Lagos state pension board play

Folashade Onanuga, DG, Lagos state pension board

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The Lagos State Government has approved the release of N1.5bn as pension payment to another batch of 238 retirees for the month of November.

The Director-General, Lagos State Pension Board, Mrs. Folashade Onanuga said this at the 21st retirement certificate presentation in Lagos recently.  This brings the number of retirees paid between August and November this year to 1,992.

She put the total amount under the ‘Pay As You Go’ pension scheme paid on behalf of the retirees as N8.4bn.

Onanuga said despite the fact that the state government had other matters contending for the state funds, it believed that retirees deserved to be paid, having put in their best while in active service.

This is part of the change the administration has promised the people of Lagos State. This kind gesture is in continuation of the governor’s magnanimity and an earlier promise to clear the outstanding benefits of the retirees” She said.

Onanuga advised retirees to invest the amount in in any business they want to and to be selective in choosing the same according to their situations.

She also added that the retirees would soon be issued identification cards to enable them to access health care facilities.

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