The Governor of the State of Osun, Mr Adegboyega Oyetola has released the sum of Seven Hundred and Eight Million Naira (N 708,000,000) to further offset pension arrears of retired officers of the State civil service.
This followed the release of One Billion, Two Hundred Thousand Naira for pension settlement during the Christmas and New Year Celebrations; the release of another Seven Hundred and Eight Million Naira in February to further offset pension arrears; and the presentation of bond certificates of N 963 million to 143 retirees in February.
A press release sent to TOS TV News correspondent by Senior Special Assistant to Governor Oyetola on Strategic Communication, Charles Adeyemi and signed by the Head of Service, Dr. Festus Olowogboyega Oyebade said, the sum of Five Hundred and Eight Million Naira (N 508,000,000) of the released sum was approved for the payment of retired civil servants, while an additional sum of One Hundred and Fifty Million Naira (N 150,000,000) was approved for the payment of retirees under the contributory pensions scheme.
He added that an additional Fifty Million Naira was approved for the payment of gratuities of retired officers under the old pension scheme.
According to the release, 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 is said to start on Friday, 5th March, 2021.