Adeleke releases N1.46bn bond certificates to 273 retirees in Osun

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By Deborah Oladejo, Osogbo

Osun State Governor, Ademola Adeleke on Thursday released bond certificates of N1.46billion to 273 retired workers of both the state and local governments in the state.

Adeleke, speaking at the event, said his government had so far released N1.528billion bond certificates to retired workers of the state and local governments. 

He also said that N350million has equally been released as gratuities to retired staff of local governments, primary and secondary schools, tertiary institutions, civil servants and agencies.

The governor told the pensioners that he was not doing them any favour but only fulfilling the task the people voted him to do. 

Giving the breakdown of the bond certificates released so far, he said: “Under the Contributory Pension Scheme, I ordered the release of N700million between November, 2022 and January, 2023 for retirees at the state level.

“For retirees at the local government level, I approved N828million for retirees in primary schools and local governments between November, 2022 and January, 2023.

“I have also acted with respect to the old pension scheme. At the state level, from inception of the administration to the end of January, 2023, N200million has been paid as gratuity.

“At the local government level, N150million has so far been released as gratuity to retired local government and primary school staff.

“Today, 119 retirees cutting across the civil service, parastatals and tertiary institutions are being given their bond certificates totaling N632,952,655.56.

“For local government service, 62 retirees are to be given bond certificates totaling N205,428,602.07. Primary school retirees totaling 92 will be given bond certificates totaling N621,819,731.03.”

In his welcome address, Head of Service, Mr. ‘Leye Aina, said the state government has continued the regular payment of monthly pension at the range of N500million for civil servants and N348million at the LGA level while the monthly remittances to the Pension Fund administrators continue unabated.

Aina said: “In the State Public Service, a sum of N350million is now being released monthly for the contributory pension scheme as against the former sum of N175million. Similarly, a sum of N100million is being released as gratuity under the old pension scheme as against the former N50million. 

“As for the Local Government Service N400million has been approved monthly for the Contributory Pension Scheme while N150million is being released for the old pension scheme.”

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