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“We’ve cleared pensions owed from 2014″ – Gov Otti Lament
The governor of Abia state, Alex Otti, has claimed his administration has paid all arrears of pensions dating back to 2014.
The monies were owed to about 12,500 pensioners.
Otti, speaking at the Government House Umuahia, vowed that pensioners will never be owed their pensions again.
He assured that Abia pensioners would be receiving their 100% monthly pensions alongside workers on or before the 28th of every month.
The Governor further disclosed that payment of accumulated pensions in the state has greater positive impact on the economy of the state as it has injected money into the system.
He said; “I am glad to report that all pensioners , when I said all, I mean all of them have been paid as at last Thursday. All of the arrears have been taken away.
“The economy works with money. If you are in Abia and you will see that those pensioners who would have been begging 500 Naira, 1000 Naira, 5000 Naira to eat are able to feed themselves today and you recognize the fact that when they spend this money , they spend it in the State.
“So, if you understand the multiplier effect of money ,if you understand that supply can only happen when there is demand and effective demand is that demand that is backed up by cash, then you would have understood what we have done, we have returned power to those that own it and that is the people, and I am happy that our pensioners, close to 12,500 of them have been paid.”
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