Governor Dapo Abiodun has sworn in two 25-member Pension Funds Management Committees as part of measures to strengthen the financial security of Ogun State’s workforce.
The move follows sustained engagement with organised labour and a freshly signed Memorandum of Understanding that brought an end to a week-long strike by state employees.
One committee will oversee state pensions and the other local government pensions, both established in strict compliance with Section 19, Paragraph 2 of the Ogun State Pension Reform Law of 2006.
Addressing the inauguration ceremony in Abeokuta, Governor Abiodun commended labour unions for their “patriotism” and commitment to dialogue, describing them as “critical partners in progress.” He reaffirmed his administration’s resolve to deliver a pension system that workers would take pride in.
He described the defunct pension model as burdened by “bad debts, prolonged delays, unpredictable disbursements and heavy liabilities entirely dependent on government budgets and annual releases.”
“These committees symbolise our determination to put in place an enduring and transparent pension system. Pension reforms are not acts of charity; they are legal, moral and economic imperatives,” the governor said.
The committees have been entrusted with a broad mandate to ensure efficient, accountable and transparent management of the Contributory Pension Scheme.
Governor Abiodun called on members to discharge their duties with diligence, integrity and adherence to best practices.
Mrs Arinola Adetayo will chair the State Pensions Committee, while Engr Olufisan Osiyale leads the Local Government Pensions Committee.
Speaking on behalf of both teams, Engr Osiyale expressed appreciation for the confidence reposed in them and pledged to fulfil their responsibilities through a collaborative approach.
