Without mincing words the National Pension Commission PenCom, has berated the Lagos State Government for its consistent failure to honour the N2bn monthly commitment to clear the accrued rights of its retirees.
In the latest PenCom publication, 2022 Fourth Quarter Report , the Commission stated that, “As at the end of the 4th Quarter of 2022, there was no record of the state fulfilling its monthly commitment o N2bn for the months of October, November and December 2022.”
Pointing out a large bill of shortfall ballooned by the ‘consistently failed’ approach, the Report said, “Only a total sum of N7.83bn was so far redeemed as against the expected sum of N26bn during the period.”
“This therefore leaves a cumulative shortfall of N18.17bn that was yet to be redeemed as at the end of December 2022,” PenCom Quarterly Report stated.
