Gov. Gboyega Oyetola of Osun has released N708 million for the payment of pension arrears of retirees in the state.

This is contained in a statement issued by the Head of Service of the state, Dr. Festus Oyebade, on Monday in Osogbo.

Oyebade said that N508 million was approved for the payment of retirees under the old pension scheme, while N150 million was approved for the payment of selected retirees “based on merit” under the contributory pension scheme.

The head of the service said that N50 million was approved to offset part of the gratuities of retirees under the old pensions scheme.

He said the Oyetola-led administration was committed to the welfare of retirees, adding that effort was in place to give workers the pride of place they deserved.

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Oyebade noted that the list of names of the selected retirees had been posted on the notice boards of the Ministry of Information and Civic Orientation, State Pensions Bureau, and the Office of the Head of Service.

“Retirees are enjoined to check their names on the boards as payment will commence on Nov. 23,” he said.