LASG, LWC MAKE HISTORY, EXCITE RETIREES

It was a celebration galore as the Lagos State Government, through Lagos Water Corporation presented Bond Certificates to the Corporation Retirees. The Bond Certificates presentation took place on the 14th March, 2017 at the LWC, Water House, Ijora, Lagos.

In his remark, the Special Adviser to the Governor on Environment, Mr. Babatunde Hunpe who was present at the event adjudged the Corporation?s? Bond Certificates presentation to be the first of its kind, with the ceremony that followed the presentation. He said ?this is a memorable day in history of Lagos Water Corporation, we have never had this kind of Bond Certificates presentation before, I am completely overwhelmed?.

Mr. Hunpe further commended the LWC boss, Engr. Muminu Badmus for his outstanding initiative and urged other State Agencies and Parastatals to borrow a leaf from this memorable event. Other notable dignitaries present at the event were: the Lagos State Permanent Secretary for Establishment and Training, Mrs. Folashade Ogunnaike, LWC, COO, Engr. Deji Johnson, Mr. Awobajo F.O., Mr. Otunniyi A.A., Mrs. Fasuyi Kehinde and Mrs. Rosiji Oluyemisi (All LASPEC representatives).

While delivering the key note address, Engr. Muminu Adekunle Badmus restated the Corporation?s commitment towards prompt payment/settlement of retirement benefits dividends of LWC retirees. ?The Managing director said, ?I am highly delighted, because this historic event is happening during my time as the Managing Director of the largest water producer in sub-Saharan Africa. This day sees the fulfillment of my promise when I came on board on 2nd November, 2015 to remit every deduction from all employees? salaries into their Retirement Savings Account?.

The LWC boss stated that under this new scheme, the Corporation would today expend the sum of 68 Million Naira on a total number of 36 retirees, whose bond certificates will be presented to them, he said this new scheme will reduces the waiting period for contributors to access their Retirement Savings Account, because this Retirement Bond Redemption Fund Account is consistently funded by the State Government.

He further thanked the retirees for their patience, commitment, hard work, loyalty and resourcefulness toward positive and effective service delivery in Lagos State, as they are alive to reap the fruit of their labour.

Engr. Badmus commended the Lagos State Government, under the leadership of His Excellency, Mr. Akinwunmi Ambode and the Director General, LASPEC (Lagos State Pension Commission), Mrs. Folashade Onanuga, for their assistance and intervention towards the settlement of retirement benefits of our retirees (2008 ? 2014) under the new Contributory Pension Scheme.? Recently a bond payment of the sum of ?323,483,374.97 was presented to 149 of LWC retirees, who retired between 2008 ? 2014, from Lagos State Government through LASPEC under the new pension scheme (Contributory Pension Scheme), he added.

In her contribution, the Director General, LASPEC (Lagos State Pension Commission), Mrs. Folashade Onanuga, advised the retirees that when the money is received should not be used for needless ventures, but channeled towards profitable endeavours as no one is too old to dream big and set new goals.

The Lagos State Permanent Secretary for Establishment and Training, Mrs. Folashade Ogunnaike appreciated the Corporation efforts towards making the day an eventful one and thanked the MD, LWC for his good work and commitment toward moving the Corporation forward.

The Lagos Water Corporation, Assistant General Manager (Human Resources) ???????????? Mrs. Aramide Alaka implored the retirees to use the money judiciously, as this is not the time for unprofitable social activities. She prayed that ?may God let every one of us reap the reward of our labour? (Ki Olorun je ki afi owo arawa gba etoo wa, Amin), she concluded.

Signed:

Anifowoshe Rasaq O.

For: Controller, Public Affairs Division

Lagos Water Corporation.

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