The Lagos government said it paid another set of 1,455 retirees N4.48 billion on Thursday as accrued pensions disbursed for March.

The payment was made at the 104th retirement bonds certificate presentation organised by the Lagos State Pension Commission (LASPEC).

At the 103rd retirement bonds certificate presentation in February, when LASPEC paid N3.2 billion in accrued pensions to 1,013 retirees, Governor Babajide Sanwo-Olu pledged to pay at least N4 billion in March.

The governor assured that the state government would pay another N3 billion in April to settle all outstanding accrued pensions before the middle of the year.

“While we acknowledge the backlog in the payment of accrued rights, our attention is focused on systematically eliminating the backlog,’’ Mr Sanwo-Olu said in February.

He expressed confidence then that the government’s aspiration for a “pay-as-you-go” model would be realised before the end of his tenure.

LASPEC’s director-general, Babalola Obilana, said at Thursday’s presentation that funds released were for civil servants who retired before the Contributory Pension Scheme in 2007.

(NAN)