The Lagos State Pension Commission (LASPEC) presented bond certificates at the 114th batch ceremony held at the Adeyemi Bero Auditorium, Alausa, Ikeja, the commission said in statements released on 5 May 2026.
The total sum released is N1,126,050,940.12, according to the commission’s Director-General, Babalola Obilana. The payment covers accrued pension rights for public servants whose service ended before the contributory scheme took effect.
Obilana said the latest payout is part of a steady programme of retirement bond disbursements. He described the Lagos pension framework as one of the most efficient in Nigeria and credited sustained cooperation between LASPEC, Pension Fund Administrators, annuity service providers, and government ministries for the consistency of payments.
The announcement follows similar payments made earlier in 2026. In January, the 113th batch ceremony saw N1.014 billion released to 544 retirees drawn from the mainstream civil service, local governments, the Universal Basic Education Board, the Teaching Service Commission, and other state agencies. About two months later, Governor Babajide Sanwo-Olu told a visiting delegation from the Pension Transitional Arrangement Directorate that Lagos was the only state in Nigeria with zero pension arrears.
Sanwo-Olu said the government had cleared all outstanding pension liabilities over a three-year period. He added that retirees with complete records now begin receiving benefits within two to three months of leaving service.
LASPEC officials said they are expanding training for directors, administrative officers, and pension desk officers across government agencies, a move intended to shorten processing times and lift the quality of service delivery.
The commission was established under the Lagos State Contributory Pension Scheme law of 2007 to regulate and oversee pension administration for the state public service. Obilana noted that the issuance of bond certificates is a formal fulfilment of the government’s obligations and reflects a system built on responsibility and consistency.