According to Mrs. Ajibola Ponnle, Commissioner for Establishments, Training, and Pensions, Lagos paid its retirees N50bn during a four-year period.
At the occasion to distribute retirement bond certificates to Lagos State Public Service pensioners, Ponnle mentioned this in her introductory remarks.
She stated, “The State Government is really appreciative of your labor and recognizes the need to safeguard your retirement benefits; as a result, Lagos State was among the first states to introduce the Contributory Pension Scheme with a goal to guarantee your monthly retirement income.
“With approximately N50.7 billion given to 13,928 retirees in the mainstream, local government, state universal basic board, teaching service commission, and other sectors of the pension business, we have consistently outperformed the competition in this area”.