BY NKECHI NAECHE-ESEZOBOR–The National Pension Commission (PenCom), said the Lagos State Government has consistently failed to honour the N2 billion monthly commitment to clear the accrued rights of its retirees.
This is contained in the fourth quarter report released by the commission via it’s official website, that as at the end of fourth quarter of 2022, there was no record of the State fulfilling its monthly commitment of remitting ₦2 billion for the months of October, November and December 2022.
The statement added that only a total sum of N7.83 billion was so far redeemed as against the expected sum of N26 billion during the period.
This therefore leaves a cumulative
shortfall of N18.17 billion that was yet to be redeemed as at the end of December
2022.
Some states across the six geopolitical zones in Nigeria are yet to fully implement the Federal Government’s Contributory Pension Scheme (CPS), according to fourth quarter report released by the National Pension Commission (PenCom).
According to the report posted on its official website , that the number of States with laws on the CPS remained Twenty-Five as at Q4 2022, while seven States were at bill stage.
The report added that five States had enacted Laws on the Contributory Defined Benefits Scheme (CDBS) with two out of these five.
It added that Jigawa and Kano currently implementing the scheme while Kano is yet to transfer the pension assets to a Pension Fund Custodian though.
It noted that states such as Gombe, Zamfara and Adamawa are yet to commence
implementation of the CDBS.
