The Lagos State Government says N1.24 billion has been released to pay its retirees for March.
Mrs Folashade Onanuga, the Director-General, Lagos State Pension Commission ( LASPEC ), said the money was released to pay 183 retirees under the Contributory Pension Scheme (CPS).
Recall that the State Governor, Mr Akinwunmi Ambode, at the 49th Benefit Bond Certificate Presentation (BBCP) on April 4, reiterated his commitment to pay pensioners in the state promptly.
He said that despite the high funding obligations of the state, it had been consistent in paying retirees.
“Our commitment stems from the understanding that the greatest asset a state has are the employees. Their well-being in and outside the job is our priority.
“We urge retirees to take informed decision of the choice of either Programme Withdrawal or Annuity Plan.”