EKITI VARSITY SPENDS N4BN ON PENSION, GRATUITY IN FIVE YEARS

Bamidele Olumilua University of Education, Science and Technology, Ikere-Ekiti, says it has spent more than N4 billion on pension and gratuity payments to retired workers over the past five years.

The university disclosed this while responding to concerns and recent protests over delays in the payment of retirement benefits to former employees.

According to the institution, the payments have been made since 2021 as part of efforts to address outstanding pension and gratuity obligations inherited and accumulated over the years.

The management acknowledged the concerns of affected retirees but maintained that considerable resources had been committed to reducing the backlog despite other financial responsibilities facing the university.

It also assured pensioners and other stakeholders that efforts would continue to address outstanding payments as funds become available.

The university urged affected retirees to remain patient as management works towards clearing the remaining obligations and ensuring eligible beneficiaries receive their entitlements.