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Lagos plans N4bn pension payment March

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The Lagos State Government will release N4bn to pensioners in March, as part of efforts to inject funds into the economy to cushion the economic hardship in the country.

Governor Babajide Sanwo-Olu’s Chief Press Secretary, Gboyega Akosile, disclosed this in an interview with The PUNCH.

Akosile explained that Sanwo-Olu’s second term in office would be about social inclusion.

He said this while giving updates on the government’s efforts to ameliorate the hardship being faced by Nigerians especially Lagosinans at this period.

Akosile said, “The second term of the administration is all about inclusion. Part of what we have been doing is to inject directly into the economy funds that will alleviate the suffering of the people. We just did the Trader Money. Two days ago, we paid N1.1bn pension and in March, we are going to pay another N4bn to the pensioners.”

At the weekend, Sanwo-Olu disclosed on his X handle that he had honoured the plan to pay N3.1bn to over 1,000 retirees who served the state meritoriously.

“This payment of N3.1bn alongside their monthly contributions which have already been remitted into their respective Retirement Savings Accounts with the Pension Fund Administrators is a testament to the unwavering commitment of our administration to the welfare and well-being of retirees,” he wrote via @jidesanwoolu on February 16.

“Next month, we will pay another N4bn as Lagos continues to lead in pension benefits administration,” he added.

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