Governor Babajide Sanwo-Olu of Lagos State has issued a caution to retirees, advising them against donating their pensions to churches and mosques as part of thanksgiving or tithes. Instead, he emphasized that retirees should prioritize using their pension funds to address their family needs.
This advice was given during the presentation ceremony of the 105th batch of retirement bond certificates to state retirees yesterday.
Governor Sanwo-Olu highlighted that the payment of pensions reflects the Lagos State government’s unwavering commitment to its retirees. He stressed the importance of retirees using their pensions wisely for personal and family welfare.
READ MORE: Key Alliance Candidates Receive Endorsement from Pro-Gaza, Anti-LGBT Education Muslim Lobby Group
“This is your hard-earned money,” Sanwo-Olu stated. “It’s about you and your family’s needs, not about solving every problem. When religious institutions ask for large donations, such as N3 million for building projects, it’s important to act wisely. God will give you the wisdom to make the right decisions, and Sanwo-Olu has ensured your pension is secure.”
He also marked the 105th Retirement Bond Certificate presentation as a significant milestone, announcing a transition to a new era of pension administration called ‘Pay-As-You-Go.’ “From now on, all state government retirees will receive their pensions as they retire, provided all necessary procedures and approvals are completed before retirement,” he added.
Governor Sanwo-Olu’s advice underscores the importance of financial prudence for retirees, ensuring that their pensions are used effectively to support their personal and family well-being.
