Lagos pays N891 million to 324 retirees

The Lagos State Government on Tuesday paid the sum of N891 million to 324 retirees from the mainstream civil service, local governments, state universal basic education and other parastatals for the month of July 2016.

Speaking at the 29th Retirement Benefit Bond presentation ceremony recently, the Director-General, State Pension Commission (LASPEC), Mrs Folashade Onanuga advised the beneficiaries to use the lump sum payment by their respective Pension Fund Administrator judiciously.

She emphasised that the State government has fulfilled her own part of paying the retirees’ entitlements and that it is now left for the Pension Fund Administrators /Annuity Service Providers to fulfil their part of the arrangement by ensuring that monthly payment to retirees is made.

While reiterating that the commission will continue to monitor the activities of pension operators to guarantee that they continue to fulfil their obligations to the State retirees, Onanuga implored beneficiaries to seek professional advice when making an investment decision with their payment.

The sum of N16,336,552 billion had already been paid to 3,924 retirees by the Lagos State Government as accrued pension rights through LASPEC from August 2015 to July 2016.

In a related development, a non-governmental organisation, ‘Comfort the Discomfort International Charitable Foundation’ has commended Governor Akinwunmi Ambode of Lagos State for his magnanimity on the regular payment of pension and arrears to retirees, especially in view of the economic downturn in the State and the Nation at large.

According to the Chairman of the NGO, Pastor J.O. Odetunde, “You took the bull by the horn at a time many States in the federation are indebted to those who are still in active service”, applauding the administration for implementing programmes with the humane disposition which portrays it as a government for humanity and posterity.

However, it urged the government to consider provision of health packages such as routine medical checks and free medical facilities at public health institutions to the retirees as well as making recreational facilities available for them to manage loneliness and enhance unbroken interrelationship among the retirees, stressing that the recreational activities could be zoned on Local Government basis

Join our BBM channel for instant updates : C0030863D

Comments

Alert: Naira Gains A Massive 5% Against the Dollar

The exchange rate rebounded on Friday to close at N308 at the official interbank market. The local currency gained about 5.2% reversing the N325 it closed with on Thursday. According to reports, the gains was mostly due to a sale of forex by the Central Bank of Nigeria providing enough liquidity to meet the demand currently in the market. The naira has closed at an all time low of N364 to the dollar on Thursday following a surge in demand. The central bank has been selling dollars almost daily to boost liquidity and support the naira. Join our BBM channel for instant updates : C0030863D

SEC to end issuance of e-dividend warrant by June 2017

The Securities and Exchange Commission (SEC), has directed all registrars operating in the Nigerian capital market to end the issuance of e-dividend warrant to investors by June 31, 2017. This, according to the commission, will compel retail investors to embrace the exercise and stem the rising unclaimed dividend in the capital market, which is currently put at N80 billion. E-dividend is an electronic dividend payment which will enable an investor’s account to be credited after 24 hours that dividend is paid. The Director General of SEC, Mounir Gwarzo, while addressing journalists during the post Capital Market Committee (CMC), second quarter press briefing, held in Lagos yesterday, bemoaned the low level of patronage on e dividend registration in the market, noting that only 6,000 investors have accessed the platform. To encourage more participation in the exercise, the SEC boss explained that the CMC has agreed that all banks should...

How to overcome procrastination: this will help you!!!

And so I came across this write up by Gennaro Cuofano, and I thought it wise to share I do not understand why procrastination is perceived as a very bad thing. I honestly don’t know about you but thank god I am a procrastinator. If it weren’t so right now I would be a fat smoker and a lonely man. If I am not fat is because most of the time I procrastinate in eating food that is unhealthy for me. If I am not a smoker is because I procrastinate in taking another bad habit, which would make me go out during the night to buy a package of cigarettes. If I am not lonely is because each time I am pissed at someone I procrastinate in f***ing them off. I actually wish I was a better procrastinator. If it were the case I would be a much better person than I am. But I am not and I am working on it to become the world’s top procrastinator! Procrastination is a blessing. We have evolved in an environment with limited resources and our body and mind too is the result of a...

The Finance Dude

Search This Blog