JUST IN: Oyetola Releases N1.6bn For Pension Payment

Governor Adegboyega Oyetola of Osun State has released the sum of N1.6 billion for the payment of pensions to retirees in the state.

Osun government confirmed the release of the fund through a statement from the office of the Head of Service and made it available to newsmen.

The money is for the payment of pension rights for the month of June 2022, to retired workers under the old Pension Scheme, retired primary school teachers and local government staff on Contributory Pensions Scheme, and retired civil servants in ministries and agencies of government.

The statement read in part: “Apart from paying the sum of Seven Hundred and Fifty-Two Million (N752,000,000) as monthly pension to all retired workers under the old Pensions Scheme, the governor, Mr Adegboyega Oyetola, has released another sum of Five Hundred and Sixteen Million, One Hundred and Eighty-Six Thousand Naira (N516,186,000) for the payment of pension bonds to retired primary school teachers and local government staff on Contributory Pensions Scheme, and a sum of Three Hundred Million (N300,000,000) to retired civil servants in ministries and agencies of government, totalling Eight Hundred and Sixteen Million, One Hundred and Eighty-Six Naira only (N816,000,000).

“The total amount released for pensions in June 2022 is One Billion, Six Hundred and Thirty-Eight Million, One Hundred and Eighty-Six Naira only (N1,638,186,000).

“The list of beneficiaries is posted on the notice boards of the Local Government Pensions Bureau, Civil Service Bureau Office of the Head of Service, and the Ministry of Information and Civic Orientation.

“As part of his unflinching love for all the workers of the State, Mr Adegboyega Oyetola has directed further that payment should start on Thursday, 14th July 2022.

“All workers of the State, both serving and retired, are assured by Governor Adegboyega Oyetola of continuous priority of their welfare in the scheme of things in the State”, the statement read.