Korede Abdullah 
LAGOS, Nigeria – The Lagos State Government has restated its dedication to the welfare of workers and retirees as it presented retirement bond certificates worth ₦1.5 billion to 832 former public servants.
Speaking at the 112th Batch Retirement Bond Presentation Ceremony in Alausa, on Tuesday, the Director-General, Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, described the gathering as “a deeply significant event that celebrates dedication, service, honour and fulfilment.”
He told the beneficiaries, “You have served faithfully, and today the State stands ready to fulfil its promise to you,” while praising Governor Babajide Sanwo-Olu for his “unwavering commitment” to workers’ welfare.
Obilana highlighted Lagos State’s consistency in meeting its obligations under the Contributory Pension Scheme, noting, “Since the adoption of the Contributory Pension Scheme, Lagos State has consistently met its statutory obligations by remitting both employer and employee pension contributions promptly.”
He explained that reforms such as digitalisation, continuous record reconciliation and stronger collaboration with Pension Fund Administrators have boosted efficiency and eliminated longstanding bottlenecks.
“The Bond Presentation Ceremony remains central to these reforms… not just numbers on charts but real people whose futures are being safeguarded,” he added.
The LASPEC DG further noted that Lagos now operates “one of the most efficient and well-managed pension systems in the country,” backed by regular training and sensitisation across MDAs.
Looking ahead, he said the Commission would ensure pension administration remains adaptable to evolving economic realities.
Expressing gratitude to stakeholders and LASPEC staff, Obilana announced, “Today, Mr Governor will be presenting another set of 832 retirees with their retirement bond certificates worth a total of ₦1,500,000,000, being their past service benefits prior to the commencement of the Contributory Pension Scheme in 2007,” while thanking teams for “the late nights and the tireless dedication” invested in strengthening the system.
About the Author
Oluwatobi Adu 
Edino Chubiyo Cornelius 
Koko Maxwella 