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Babalola Obilana

  •  Pensioners welfare our top priority Lagos govt pledges
    Pensioners welfare, ‘our top-priority ‘, Lagos govt pledges
     Pensioners welfare our top priority Lagos govt pledges
    Pensioners welfare, ‘our top-priority ‘, Lagos govt pledges
    Economy2 weeks ago

    Pensioners welfare, ‘our top-priority ‘, Lagos govt pledges

    The Lagos State Government on Friday said it would not relent in its pursuit to improve life for its retirees and had placed the welfare and wellbeing of its pensioners as top-priority .

    Mrs Ajibola Ponnle, Lagos State Commissioner For Establishments, Training and Pensions made the pledge at the 96th Retirement Certificates Presentation organised by the Lagos State Pension Commission (LASPEC) in Lagos.

    “Recently, the state government through the Lagos State Residents Registration Agency (LASRRA) and in collaboration with sister agencies launched an upgraded Lagos State Resident Identity Card (LAG ID Card) .

    “The card will include benefits such as  subsidised health care and transport services for our retired public servants.

    “Please ensure you are registered with LASRRA to enjoy these benefits upon commencement,” Ponnle said.

    According to her, the state government has paid N1.113 billion as accrued pension rights into the Retirement Savings Accounts (RSAs) of 295 retirees for the month of July.The commissioner stated that Gov. Babajide Sanwo-Olu-led administration had paid over N43 billion as accrued pension rights to 11,644 retirees in its public service from May 2019 till date.

    Ponnle said: ” The state government recognises the plight of our estimable workers who have served in the Lagos state public service and the need to safeguard their financial security after service.

    “Tp this end, it implemented the payment of the new minimum wage six months after the new wage bill was adopted as law and with a higher amount than the approved recommendation in response to global and national economic challenges.

    “The state also implemented the upward review of pension contributions from 7.5 per cent of employee and employer contributions to 8 per cent employee contributions and 10 per cent employer contributions.

    “This is in line with the administration’s vision to cater for its workforce even in retirement.

    ”The commissioner congratulated the retirees, wished them the best and advised them to carefully review the retirement savings options available for them to utilise their money prudently.

    She charged them to contact LASPEC or the Ministry of Establishments, Training and Pensions should they require clarifications or advice on their retirement benefit matters.

    “Please embrace the joy and challenges of this new phase of life.

    Be prudent with your money and practice a healthy lifestyle to enjoy your retirement,” she said.

    In his address, the Director-General , LASPEC,  Mr Babalola Obilana said the Sanwo-Olu’s administration deserve applaud for its constant support for the payment of pension obligations and the various policies initiated to better the lives of the senior citizens.

    Obilana stated that the contributions of Lagos State to the success of the Contributory Pension Scheme in Nigeria was an undisputable fact.

    ” Lagos State is a trail blazer in the industry with 10 per cent employer and eight per cent employee contributions remitted monthly into individuals RSAs after salaries are received.

    “The governor approved the automation of business processes in LASPEC to ensure first class service delivery to our dear retirees in order to accomplish the state government’s goal of the immediate payment of pension entitlements upon retirement from the public service,” he said.

    The director general appreciated the efforts and contributions of the retirees whilst in the service, noting that the vision of a ‘Greater Lagos’ would have been an impossible dream without them.

    Obilana urged the elderstatesmen to beware of any Individual or Association who claim to be affiliated with the state government and can process or fast track their pension entitlements for a fee. 


    NewsSourceCredit: NAN

  •  We ve N10bn outstanding accrued rights to pay 10 000 retirees LASG
    We’ve N10bn outstanding accrued rights to pay 10,000 retirees – LASG
     We ve N10bn outstanding accrued rights to pay 10 000 retirees LASG
    We’ve N10bn outstanding accrued rights to pay 10,000 retirees – LASG
    Economy1 month ago

    We’ve N10bn outstanding accrued rights to pay 10,000 retirees – LASG

    No fewer than 10,000 retirees are been owed their pension rights in Lagos State, Mr Babalola Obilana, Director-General, Lagos Pension Commission (LASPEC), has said.

    Obilana said the commission also had about N10 billion to pay as outstanding accumulated debts for pensioners in the state.

    He disclosed this in an interview with the News Agency of Nigeria on the sidelines of the 95th Retirement Benefit Bond Certificates Presentation For Retirees in Lagos on Saturday.

    Obilana stated that the outstanding pension would be settled before the end of the first tenure of Gov. Babajide Sanwo-Olu in May 2023 as promised by the governor.

    Recall that the state government paid more than  N1.5 billion to 487 retirees  for the month of June on Friday.

    Obilana said that with the latest payment, pension benefit for retirees of year 2020 had been settled and the state government would proceed to start paying retirees for the year 2021 by July.

    On the free transportation and healthcare promised by the state government for its retirees above 60 years, Obilana said that the  government was firming up agreements that would lead to the implementation.

    NAN reports that the state government had since 2020 proposed free transportation and healthcare for its elder statesmen.

    In 2021, the state government promised to commence the free transportation for the retirees before the end of the first quarter and the free healthcare before the end of year 2022 respectively.

    The director- general said that the welfare packages were yet to be implemented due to several processes required for negotiations and agreement with relevant transportation agencies that would facilitate it.

    ” We are seeing light at the end of the tunnel and very soon we will start with the free transportation for the retirees and subsequently we will start the free healthcare too.

    “The commissioner for establishments is working day and night to ensure that we begin the implementation of these packages.

    “Before the end of the third quarter of the year, we should be in the position to start, at least with the free transportation and then proceed to the free medical,” he said.

    Also, the Lagos State Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle said the government had paid over N42 billion as accrued pension rights to 11,349 retirees from 2019 till date.

    According to her, the amount paid to the retirees is for their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.

    Recall that a recent release by the National Pension  Commission (PenCom) on the status of implementation of the CPS by States indicated that Lagos state is leading the pack in the Nigerian pension Industry. (

    NewsSourceCredit: NAN

  •  We ve N10bn outstanding accrued rights to pay 10 000 retirees LASG
    We’ve N10bn outstanding accrued rights to pay 10,000 retirees – LASG
     We ve N10bn outstanding accrued rights to pay 10 000 retirees LASG
    We’ve N10bn outstanding accrued rights to pay 10,000 retirees – LASG
    Economy1 month ago

    We’ve N10bn outstanding accrued rights to pay 10,000 retirees – LASG

    No fewer than 10,000 retirees are been owed their pension rights in Lagos State, Mr Babalola Obilana, Director-General, Lagos Pension Commission (LASPEC), has said.

    Obilana said the commission also had about N10 billion to pay as outstanding accumulated debts for pensioners in the state.

    He disclosed this in an interview with the News Agency of Nigeria on the sidelines of the 95th Retirement Benefit Bond Certificates Presentation For Retirees in Lagos on Saturday.

    Obilana stated that the outstanding pension would be settled before the end of the first tenure of Gov. Babajide Sanwo-Olu in May 2023 as promised by the governor.

    Recall that the state government paid more than  N1.5 billion to 487 retirees  for the month of June on Friday.

    Obilana said that with the latest payment, pension benefit for retirees of year 2020 had been settled and the state government would proceed to start paying retirees for the year 2021 by July.

    On the free transportation and healthcare promised by the state government for its retirees above 60 years, Obilana said that the  government was firming up agreements that would lead to the implementation.

    NAN reports that the state government had since 2020 proposed free transportation and healthcare for its elder statesmen.

    In 2021, the state government promised to commence the free transportation for the retirees before the end of the first quarter and the free healthcare before the end of year 2022 respectively.

    The director- general said that the welfare packages were yet to be implemented due to several processes required for negotiations and agreement with relevant transportation agencies that would facilitate it.

    ” We are seeing light at the end of the tunnel and very soon we will start with the free transportation for the retirees and subsequently we will start the free healthcare too.

    “The commissioner for establishments is working day and night to ensure that we begin the implementation of these packages.

    “Before the end of the third quarter of the year, we should be in the position to start, at least with the free transportation and then proceed to the free medical,” he said.

    Also, the Lagos State Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle said the government had paid over N42 billion as accrued pension rights to 11,349 retirees from 2019 till date.

    According to her, the amount paid to the retirees is for their past service benefits prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.

    Recall that a recent release by the National Pension  Commission (PenCom) on the status of implementation of the CPS by States indicated that Lagos state is leading the pack in the Nigerian pension Industry. (

    NewsSourceCredit: NAN

  •  Lagos govt pays N1 5bn to retirees
    Lagos govt. pays N1.5bn to retirees 
     Lagos govt pays N1 5bn to retirees
    Lagos govt. pays N1.5bn to retirees 
    Economy3 months ago

    Lagos govt. pays N1.5bn to retirees 

    The Lagos State Government has paid N1.5 billion accrued pensions rights to 482 retirees for the month of May.The Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle made this known at the 94th Retirement Bond Certificate presentation to retirees of the Lagos State Public Service on Monday in Lagos.The News Agency of Nigeria reports that the programme was organised by the Lagos State Pension Commission (LASPEC).Ponnle, represented by the Permanent Secretary of the ministry, Dr Biodun Onayele , stated that Lagos State reiterated the state’s commitment to the payment of retirees’ benefits.” Gov. Babajide Sanwo-Olu has been a consistent high flyer in the pension industry with over N40.5 billion paid to 10,862 retirees.“The retirees are in the Mainstream, Local Government,  the State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM) and other parastatals of the state government from May 2019 till date.“His vision is to have a dynamic, efficient and effective workforce to pilot the agenda of a ‘Greater Lagos.” The safe retirement and welfare of our officers is a major priority in actualising this goal, ”she said.The commissioner advised retirees to learn about the different options available for investing the funds in their retirement accounts.Ponnle urged them to seek competent and reliable authorities on matters concerning pensions.“Do not hesitate to contact LASPEC or even the Ministry of Establishments, Training and Pensions for questions or clarifications regarding the modalities surrounding your retirement benefit matters,” she said.In his welcome address, the Director -General, LASPEC, Mr Babalola Obilana appreciated the efforts of  Sanwo-Olu towards the success of the Contributory Pension Scheme (CPS) and welfare of pensioners.Obilana said that the governor had continuously prioritised funding of the Redemption Fund Accounts to ensure retirees access their retirement benefits as soon as possible.” The goal of the present administration is that every worker, once disengaged from the public service, receives his or her pension benefit.“The feat has greatly reassured public servants that the government has placed them as top priority on its agenda.“Gov. Sanwo-Olu has been consistent in the payment of retiree’s accrued pension’s right against all odds,” he said.Obilana charged retirees to stay away from scrupulous associations affiliating themselves with the state government to fast track their pension entitlement.He noted that LASPEC was not affiliated with any association and would not ask for a fee. (

    (NAN)

  •  LASG sensitises retirees reiterates commitment to welfare
    LASG sensitises retirees, reiterates commitment to welfare
     LASG sensitises retirees reiterates commitment to welfare
    LASG sensitises retirees, reiterates commitment to welfare
    Economy3 months ago

    LASG sensitises retirees, reiterates commitment to welfare

    The Lagos State government said it would continue to prioritise the welfare and interests of pensioners by ensuring prompt payment of obligations within its available resources.

    Lagos State Commissioner for Establishments, Training and Pensions, Mrs Ajibola Ponnle, reiterated this on Friday at the 22nd Pre-retirement Benefit Documentation Seminar organised virtually by the Lagos State Pension Commission (LASPEC) in Lagos.

    “Gov. Babajide Sanwo-Olu has shown his commitment to the financial freedom of retirees in the state by maintaining the monthly payment of retirement obligations despite the global pandemic and its adverse impact on the economy,” Ponnle said.

    According to her, Lagos state government is dedicated to maintaining its leading role in the Nigerian pension industry by improving on the timely payment of retirees’ pensions and other applicable benefits.

    Ponnle, represented by her permanent secretary, Dr Augustine Onayele, noted that the present administration had a goal to clear the backlog of pensions by the end of Sanwo-Olu’s first term.

    She stated that the pre-retirement documentation seminar was organised to prepare all prospective retirees for the retirement process.

    “As retirement life is around the corner, I wish to advise you to embrace the joy and challenges of this new phase of life.

    “Be wary of fraudsters and seek advice from competent and reliable sources.

    “In this regard, please do not hesitate to contact LASPEC or even the Ministry of Establishments,Training and Pensions should you require clarifications or advice regarding the modalities surrounding your retirement benefit.

    “I congratulate every prospective retiree present and wish you all the best. I pray that God will give you good health to enjoy your retirement,” the commissioner added.

    In his welcome address, Mr Babalola Obilana, Director-General, LASPEC said the online seminar on retirement benefit documentation was organised to guide intending retirees and ensure their smooth exit from active service.

    Obilana said the programme was intended to educate the intending retirees on the necessary documentation required to promptly access their accrued rights pension after retirement.

    “The programme will provide valuable information on managing your personal finances in retirement, knowledge of investment and estate planning.

    “Also relevant health tips to promote healthy living will also be offered so that you can fully enjoy your pension entitlements,” he said.

    According to him, the Lagos State government acknowledges and appreciates the years of productive service by retirees and will ensure that their transition to retirement is seamless and stress free.

    The director general stated that the state government was committed to the wellbeing of its workforce, both present and post service.

    Obilana said the current administration had prioritised the speedy resolution of all pension issues in the state while LASPEC constantly reviewed and improved its business processes.

    He said this was to attain the governor’s goal of the immediate payment of pension entitlements upon retirement from the public service.

    In a presentation titled: Retirement Benefit Documentation Process Under Contributory Pension Scheme (CPS), Mr Seyi Okunola, Human Officer, Technical Department, LASPEC said retirement should be planned and not something to be scared of because it was inevitable.

    Okunola said proper preparation and documentation was key for retirees to get their benefits paid on time.

    He charged the prospective retirees to start the process of retirement six months before their retirement with a notice of their impending retirement to their employers and completion of the LASPEC form.

    Mr Wale Soetan of the Finance and Investment Department, LASPEC in his presentation titled: “Managing Finaces at Retirement,” advised the prospective retirees to avoid risky ventures, invest in productive and not wasteful assets, buy short term financial investment and convert part of their houses for rental income.

    Soetan told the intending retirees to earn daily cash flow through business ventures, avoid government contract except cash backed and apply discretion on expenses such as marriage ceremonies, birthdays, among others.

    The Managing Director, Career Anchor Consulting Ltd. Mrs Ada Duggan, said the importance of managing one’s health in retirement could not be overemphasised because it made retirement either pleasurable, enjoyable or an unhappy one.

    Duggan charged the prospective retirees to expect and constructively plan for changes in their health and life and also take responsibility for managing their health.

    “The ability to expect and constructively plan for the physical, mental, economic and social changes is critical to ensuring sound health in retirement,”she said.

    (NAN)

  •  LASG pays N38bn accrued pensions to 9 865 retirees in 3 yrs
    LASG pays N38bn accrued pensions to 9,865 retirees in 3 yrs
     LASG pays N38bn accrued pensions to 9 865 retirees in 3 yrs
    LASG pays N38bn accrued pensions to 9,865 retirees in 3 yrs
    General news5 months ago

    LASG pays N38bn accrued pensions to 9,865 retirees in 3 yrs

    The Lagos State Government (LASG) said on Wednesday that it had paid out no less than N38 billion as accrued pension rights to 9,865 retirees from May 2019 to date.

    Said the Commissioner of Establishments, Training and Pensions, Mrs. Ajibola Ponle, in the delivery of bonus certificates to the 92nd batch of retirees of the State Commission of Public Service Pensions (LASPEC) of the state in Lagos.

    Ponnle, represented by Ms. Bandele Fadipe, Permanent Secretary at the Civil Service Pension Office, said the retirees were from the Mainstream, Local Government, State Universal Basic Board (SUBEB), Teaching Service Commission (TESCOM ) and other Parastatals of the state public Service.

    He said that the state, in fulfillment of its responsibility, had also credited the Retirement Savings Accounts (RSA) of 515 retirees, along with their monthly contributions, to the tune of N1.520 billion for the month of March.

    The commissioner said that these were his service benefits prior to the start of the Contributory Pension Scheme (CPS) in 2007.

    The state government recognizes the plight of our esteemed workers who have served in their public service and the need to safeguard their official safety after service.

    ” This administration has continually prioritized the timely payment of government pension obligations within the limited resources available.

    "Despite the huge liabilities, we have paid punctually the pension rights of retirees under the Pay As You Go Pension Plan on a monthly basis, while LASPEC guarantees the payment of accumulated pension rights to retirees under the CPS, so that our retirees can access their RSAs without delay," he said. .

    The commissioner assured them that the welfare of retirees was the highest priority of the administration led by Governor Babajide Sanwo-Olu and that the state government would not give up its quest to improve the lives of retirees.

    "I wish you the best and advise you to embrace the joy and challenges of this new stage of life," Ponnle said.

    In his speech, Mr. Babalola Obilana, Director General of LASPEC, said that the efforts of the current administration under Governor Sanwo-Olu towards the success of the CPS cannot be overstated.

    Obilana pointed out that the state has been consistently implementing the CPS since its inception in accordance with the provisions of the Lagos State Pension Reform Law of March 19, 2007, now amended.

    The state government, in a bid to secure the future of the public service, which is its greatest asset, has consistently prioritized pension contributions in the annual state budget and we are pleased to note that Lagos State is fully compliant with legal requirements. of the CPS. .

    ” Both employee and employer contributions are promptly remitted to individual employee RSAs after wages have been received.

    “Despite rising recurring expenses and the current economic climate, the state government has made ongoing monthly payments a priority to ensure retirees access their retirement benefits as soon as possible,” he said.

    According to him, LASPEC is also constantly reviewing its business processes to ensure it provides first-class service to retirees and achieve the Governor's goal of prompt payment of pension rights upon retirement from public service.

    Obilana thanked the continued support of her stakeholders, the AFPs and ASPs for their tireless efforts towards the success of the CPS.

    "Please beware of any person or association that claims to be affiliated with the state government and can process or accelerate your pension rights for a fee," warned the director general.