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Oyetola approves over N700m to offset pension arrears

By News Desk

The Osun State Governor, Gboyega Oyetola, has approved the release of seven hundred and eight million naira (N708,000,000) to further offset pension arrears of retired officers of the state civil service.

He explained that the approval was in line with his commitment to improving the welfare of retired civil servants and workers across the state

Giving the breakdown, the state’s Head of Service, Dr Festus Oyebade, said that the sum of five hundred and eight million naira (N508,000,000) from the said amount was approved for the payment of retired civil servants.

Through a statement released to journalists on Wednesday, Oyebade added that one hundred and fifty million naira (N150,000,000) was also approved for the payment of retirees under the contributory pensions scheme.

According to him, an additional fifty million naira was approved for the payment of gratuities of retired officers under the old pension scheme.

Oyebade, however, said that the list of beneficiaries of the approved sum has been pasted on the notice board of the Ministry of Information and Civic Orientation, the State’s Pension Bureau, and the Office of the Head of Service.

“Payment of the released funds starts on Friday, 5th March 2021. Governor Adegboyega Oyetola assures all workers, both serving and retired that all efforts will be mustered to always give their welfare the pride of place it deserves,” the statement added.

Furthermore, the head of service said that the recent approval followed the release of one billion, two hundred thousand naira for pension settlement during the Christmas and New Year Celebrations and the presentation of bond certificates of N963 million to 143 retirees in February.

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