Oyetola presents N1.156bn bond certificates to Osun retirees

By Deborah Oladejo, Osogbo

Governor Adegboyega Oyetola of Osun State, on Thursday, presented bond certificates worth N1.156billion to another set of pensioners in the State. 

The bond certificates were presented to 162 retirees comprising primary school teachers, local government staff and those in the core civil service, parastatals and state-owned tertiary institutions.

A further breakdown shows that 93 retirees from local government service and primary schools were presented N656,304,000 bond certificates while 69 retirees from the core civil service, agencies and tertiary institutions got a total of N500million bond certificates. 

Speaking during the presentation ceremony which held at the Multi-purpose Hall, Local Government Service Commission, State Government Secretariat, Abere, Osogbo, Governor Oyetola disclosed that his administration has so far expended over N43billion on payment of pensions. 

The governor also ordered the immediate implementation of the 65 years retirement age and 40 years length of service for teachers in public schools across the State. This is in fulfilment of the pledge he made to workers during the last May Day celebration. 

Governor Oyetola said despite the limited resources available to the state government, his administration had continued to fulfill the monthly obligation and irrevocably committed to the payment of pensions and gratuities of retirees under the old pension scheme. 

He said: “As at today, we have committed a little over N43billion to the payment of pensions, all in a bid to ensure that our senior citizens are adequately taken care of, having served our dear State meritoriously. This, we are committed to do unabated, not minding the precarious financial situation of the State occasioned by the economic downturn in the country.

“Let me also use this opportunity to inform you all that our administration is set to commence the implementation of the sixty-five (65) years of age and forty years (40) length of service for teachers in Public Schools across the State. This is in line with my pronouncement during the May Day celebration this year and in adopting the Federal Government policy on the matter as amended. 

“I must emphasise that this initiative was taken without any pressure from any Union but as part of the packages this administration has for teachers in our State so that they can enjoy the same opportunity with their colleagues throughout the country.”

The governor expressed gratitude to the workers most importantly the organised labour, for their unalloyed support and high sense of understanding towards the sustainability of the whole gamut of pension matters in the State.

Earlier, the Permanent Secretary, Local Government Staff Pension Bureau, Mr. Kayode Aliu Afolabi, said the Contributory Pension Scheme under the administration of Governor Oyetola had recorded many achievements among which are regular remittances into employees’ retirement Savings Account Funding of the Accrued Rights Account and Settlement of death benefits of deceased contributors. 

Also speaking, State Chairman, Nigeria Labour Congress (NLC), Jacob Adekomi lauded Oyetola for his tremendous support for workers in the State, noting that the new feat was a clear manifestation of the love the governor has for teachers and the teaching profession.