Oyetola Releases Fresh ₦708million To Pay Pensions

The Governor of Osun, Adegboyega Oyetola has released the sum of Seven Hundred and Eight Million Naira (708,000,000.00) to pay pensions of retirees in the State.

The Head of Service in the State, Dr. Festus Olowogboyega Oyebade disclosed this in a statement issued on Monday. He restated the Governor Oyetola-led administration’s commitment to the people’s welfare, saying effort had been mustered to give workers the pride of place they deserve.

A breakdown of the fund released indicates that the sum of N508million was approved to pay pensions of retired civil servants under the Old Pension Scheme, while the sum of N150million was approved to pay selected retirees “based on merit”, under the Contributory Pensions Scheme.

Also, the total sum of N50million will be used to offset part of the gratuities of retired officers under the Old Pensions Scheme.

The statement noted that the list of names of the selected retirees has been posted on the notice boards of the Ministry of Information and Civil Orientation; State Pensions Bureau and the Office of the Head of Service.

“Retirees are enjoined to check their names on the boards as payment starts on Tuesday, 23 November, 2021,” the statement reads in parts.