Osun Presents N1.6bn Bond Certificates to Retirees

  • Osun Presents N1.6bn Bond Certificates to Retirees

Osun State Government has presented retirement bond certificates worth N1.682bn to pensioners, who retired from local government councils and primary schools in the state.

The Permanent Secretary, Local Government Staff Pension Bureau, Mr. Kayode Afolabi, said this in an interview with journalists in Osogbo shortly after the presentation of the certificates.

The PS stated that 97 retirees from local government and 137 from primary schools were beneficiaries of the bonds.

Afolabi said, “The presentation of retirement bond certificates to retirees under the Contributory Pension Scheme is the fifth of its kind. Some of us will bear me witness that an occasion of this nature came up on February 28, 2017.

When asked how would the government address the issue of delay in remittance of pensions deductions to Pension Fund Administrators of workers under CPS, the permanent secretary said there was a problem due to financial crisis but noted that the issue had been resolved now.

He said the state government would very soon issue bond certificates to another set of retirees in line with the state’s determination to ensure welfare of current workers and the retired ones.

Some of the retirees lauded the state government for ensuring prompt issuance of the bond certificates, saying it would assist them to enlarge their trading capacity and other engagements.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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