Osun Govt Recovers ₦53m in Pension Overpayments

The Osun State Government has announced the recovery of ₦53,089,683.52 in pension overpayments to retirees, following a comprehensive audit of the 2023 fiscal year.

The discovery was made public on Monday during the annual Audit Forum held in Ede, where the Auditor-General of the state, Kolapo Idris, disclosed details of the findings.

According to Idris, the overpayments occurred between January 1 and December 31, 2023. A review of 437 pension files processed during the year revealed discrepancies in 137 cases, while 300 files were cleared without incident.

“These flagged files showed irregularities, and penalties were imposed in line with pension management regulations,” Idris stated.

Providing a breakdown of the recovered funds, Idris explained:

• ₦9,899,515.94 was recovered from premature promotions.
• ₦19,905,615.20 was recovered as penalties for insufficient retirement notice and overpayment of salaries.
• ₦2,388,075.17 was recovered from retirees with service breaks.
• ₦20,896,477.51 was recovered from retirees who overstayed their service period.

In total, the audit intervention prevented over ₦53 million in overpayments during the review period.

Idris further noted that the accounts of the Osun State Government for 2023 were audited in line with Section 125(2) of the 1999 Constitution.

The audit report included details of financial performance, financial position, net assets/equity, cash flow, budget-to-actual comparisons, and explanatory notes.

“The financial statements for the year ending December 31, 2023, accurately reflect the state’s financial activities and position,” Idris assured, pledging to address any inquiries from stakeholders.

The Osun State Head of Service, Ayanleye Aina, praised Governor Ademola Adeleke’s administration for promoting transparency in 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 remarked.

The forum, attended by key stakeholders including the chairman of the Osun State House of Assembly Public Accounts Committee, Bamidele Lawal, civil society representatives, and labour leaders, provided an opportunity to scrutinize the state’s financial records.

The annual event reaffirmed the state’s commitment to transparency, accountability, and fiscal discipline, while highlighting the importance of protecting public funds and ensuring equitable distribution to retirees.