The Osun State Government has revealed that it has recovered ₦53,089,683.52 in pension overpayments to retirees.
The findings were disclosed on Monday during the annual Audit Forum held in Ede.
The state government added that it was an issue uncovered through a comprehensive audit of the 2023 fiscal year.
According to the Auditor-General, Kolapo Idris, the overpayments occurred between 1 January and 31 December 2023.
Idris said a review of 437 pension files processed during the period revealed discrepancies in 137 cases.
“These files were flagged for irregularities while the remaining 300 were cleared without incident.”
The audit findings also pointed to penalties imposed on the queried files in line with established regulations governing pension management.
Giving further details about the recovery, Idris said, “N9,899,515.94 was recovered on premature promotions, N19,905,615.20 was recovered as penalty from insufficient notice of retirement and Overpayment of Salary, N2,388,075.17 was recovered from retirees that had a break in service and the sum of 20,896,477.51 was recovered from retirees that overstayed their service.
“The total sum of ₦53,089,683.52, which would have been paid as overpayments to retirees, was recovered due to audit interventions during the year under review,” Idris stated.
He added that the accounts of the Osun State Government for 2023 were audited under his direction, under Section 125(2) of the 1999 Constitution.
The audit report included statements of financial performance, financial position, net assets/equity, cash flow, budget-to-actual comparisons, and explanatory notes.
Idris assured attendees that the financial statements for the year ending 31 December 2023, presented in the report, accurately reflected the financial activities and state of affairs of Osun State. He also pledged to address any inquiries arising from the report.
In his remarks, the Osun State Head of Service, Ayanleye Aina, commended Governor Ademola Adeleke’s administration for its transparency regarding the state’s finances.
“The governor is very transparent and honest. He has nothing to hide, which is why we have this forum. Today, the Auditor-General will present a detailed report on Osun State’s revenue, expenditure, assets, and liabilities,” Aina said.
The event, attended by officials including the chairman of the Osun State House of Assembly Public Accounts Committee, Bamidele Lawal, civil society representatives, and labour leaders, provided an opportunity for stakeholders to scrutinise the state’s financial records.
The forum, an annual event aimed at promoting transparency and accountability, emphasised the importance of regular audits in maintaining fiscal discipline.
It further underlined the state’s dedication to protecting public funds and ensuring equitable distribution to all retirees.
Osun govt recovers ₦53m in pension overpayments to retirees
