As part of efforts to improve transparency in pension administration, the Lagos State Government has concluded plans to commence an audit of staff pensions in Parastatals, Agencies, and Government-Owned Companies with independent recruitment powers.
This initiative, which will cover the 102 agencies monitored by the Parastatals Monitoring Office (PMO), is a proactive step to ensure accuracy, efficiency, and updated data in pension processing and payment.
According to the PMO, the pilot audit will focus on verifying the records of retirees from agencies that operate outside the mainstream civil service structure.
To set the stage for the audit, the Office has begun by organizing a sensitization exercise for Heads of Parastatals, Agencies, and Government-Owned Companies, as well as other senior officials.
This goal, according to the Permanent Secretary of the PMO, Adetutu Ososanya, during the 2025 Ministerial Briefing in Ikeja, is to fully brief them on the objectives, scope, and procedures involved in the verification campaign.
Ososanya added that as part of the process, background data will be collected and collated, followed by both on-the-spot and online verification of pensioners.
“In furtherance of this objective, the Office has initially organized a sensitization exercise for Heads of Parastatals, Agencies and Government-Owned companies along with other senior officials within their offices in order to properly intimate them about the aims, objectives and processes involved in the campaign.
“The exercise involves collection and collation of background data and on-the-spot/online verification of pensioners. The process will include collaborative fora with the Lagos State Pension Commission (LASPEC) and the Ministry of Establishments and Training. This is to ensure synergy and seamless execution across board.”
Beyond pension verification, the Parastatals Monitoring Office is also strengthening oversight in other key areas of agency operations.
The permanent secretary while speaking with newsmen, highlighted the role of the Parastatals Revenue Generating Meeting (PARGEM) — a dedicated platform established to monitor and coordinate the activities of revenue-generating agencies.
Furthermore, Ososanya explained that PARGEM is structured to fulfil several critical objectives, including obtaining first-hand information on revenue generated, measuring performance against set targets, and evaluating the effectiveness of strategies employed by each parastatal.
