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    MarketForces Africa » MarketForces News » Oyo State Begins e-payment of Retirees’ Gratuities

    Oyo State Begins e-payment of Retirees’ Gratuities

    Julius AlagbeBy Julius AlagbeAugust 31, 2024Updated:August 31, 2024 News No Comments2 Mins Read
    Oyo State Begins e-payment of Retirees' Gratuities
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    Oyo State Begins e-payment of Retirees’ Gratuities

    The Oyo State Government says it has begun the payment of gratuity benefits to retirees via e-payment. The State Commissioner for Establishments and Training, Hon. Olusegun Olayiwola, announced this development during a three-day symbolic data capture and e-payment exercise for retirees at the Nigeria Union of Pensioners’ Building in Agbarigo, Onireke, Ibadan.

    The Commissioner told the retirees that this will ensure a seamless and secured payment process, free from any potential disruptions.

    Olayiwola disclosed that the initiative will involve capturing and validating retirees data from June 2014 to December 2014 and June 2019 to December 2019, to start-off, while arrangements to capture other retirees promptly have also been made.

    He assured pensioners that Governor Seyi Makinde is fully committed to fostering a mutually beneficial relationship with the Nigerian Union of Pensioners, Oyo State Chapter, and other relevant stakeholders to improve the lives of retirees and all citizens of the State.

    Dr. Olusegun Abatan, the State Secretary of the Nigerian Union of Pensioners, Oyo State Chapter, underscored the advantages of e-payment for retirees, emphasizing its ability to enhance security, accuracy, and speed in the distribution of gratuities.

    He lauded Governor Seyi Makinde for prompt disbursement of funds on gratuities since assuming office as the Governor of Oyo State in 2019.

    During his closing remarks, the Permanent Secretary, Ministry of Establishments and Training,Mr Olajide Mamud Okesade expressed gratitude to Governor Seyi Makinde, the Head of Service, the Commissioner  for consistently and promptly disbursing Wage Awards to retirees and Civil Servants and other dividends.

    He highlighted the benefits of e-payment, including increased security, faster access to funds, and the elimination of risks and delays associated with physical checks, such as theft or loss. #Oyo State Begins e-payment of Retirees’ Gratuities Nigeria, Bulgaria Record surge in Trade Volume

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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