Oyetola presents N1.1bn bond certificates to Osun retirees

Gov. Adegboyega Oyetola of Osun on Thursday presented N1.1 billion bond certificates to pensioners in the state.

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

Speaking during the presentation in Osogbo, Oyetola said that his administration had spent more than N43 billion for payment of pensions.

The governor said that in spite of the limited resources available to the state, his administration had continued to fulfil 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 N43 billion 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 65 years of age and forty years 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.”

It was reported that 93 retirees from local government service and primary schools were presented N656 million bond certificates,.

Sixty nine retirees from the core civil service, parastatals and tertiary institutions got N500 million bond certificates.

In his remark, the state Chairman of Nigeria Labour Congress (NLC), Mr Jacob Adekomi, commended Oyetola for his tremendous support for workers in the state.