By Daniel Oluwatobiloba Popoola
The Lagos State Government has disbursed over ₦1 billion as accrued pension rights to 543 retirees under the Contributory Pension Scheme, reaffirming its commitment to the welfare and financial security of retired public servants.
The payment was announced on Friday, 30 January, 2026 at the 113th Retirement Benefit Bond Certificate Presentation Ceremony held at the Adeyemi Bero Auditorium, Alausa, Ikeja, where beneficiaries from across the state’s public service received confirmation of their entitlements.
The exercise, according to officials, was part of the state’s sustained effort to ensure prompt and transparent settlement of retirement benefits.
Delivering a goodwill message, the Head of Service, Olabode Agoro, said the regular payment of retirement benefits was not merely a policy initiative but a commitment consistently upheld by the state in appreciation of the contributions of its workforce.
Represented by the Permanent Secretary, Public Service Office, Olasunkanmi Oyegbola, Agoro commended the Lagos State Pension Commission for maintaining efficiency in pension administration.
“The regular settlement of retirement benefits is not just a policy choice; it is a pledge we have continued to honour in recognition of the years of dedicated service rendered by our public servants,” he said.
Agoro disclosed that a total sum of ₦1,014,835,820.80 was credited into the Retirement Savings Accounts of retirees drawn from the mainstream civil service, local governments and local council development areas, the Lagos State Universal Basic Education Board, the Teaching Service Commission, and other state parastatals.
He attributed the consistency in pension payments to the support of Governor Babajide Sanwo-Olu, noting that the administration had made the welfare of retirees a priority.
“This steady payment is a reflection of the Governor’s resolve to ensure that those who served the state retire with dignity and financial security,” he added.
Earlier, in his welcome address, the Director-General of the Lagos State Pension Commission, Babalola Obilana, described the ceremony as more than a statutory obligation, stressing that it symbolised the state’s recognition of service and fulfilment of its promises.
“This ceremony represents formal recognition of service and the tangible fulfilment of government obligations to its retirees,” Obilana said.
He explained that Lagos State had adopted a structured and transparent pension system designed to eliminate uncertainty and delays in benefit payments.
According to him, the commission has also strengthening internal controls, reducing processing timelines and deploying technology to enhance efficiency and accuracy in pension administration.
The ceremony was attended by senior government officials, pension stakeholders, as well as representatives of Pension Fund Administrators and Annuity Service Providers, underscoring the collaborative framework supporting pension management in the state.
