The Ademola Adeleke-led Osun State Government has revealed that it has recovered ₦53,089,683.52 in pension overpayments to retirees.
This disclosure was made on Monday during the annual Audit Forum held in Ede, highlighting issues uncovered through a comprehensive audit of the 2023 fiscal year.
According to the Auditor-General, Kolapo Idris, the overpayments occurred between January 1 and December 31, 2023.
A review of 437 pension files processed during this period revealed discrepancies in 137 cases, which were flagged for irregularities, while the remaining 300 files were cleared without incident. Penalties were imposed on the queried files in line with established regulations governing pension management.
Idris provided further details on the recovery, stating that ₦9,899,515.94 was recovered from premature promotions, ₦19,905,615.20 as a penalty for insufficient notice of retirement and overpayment of salary, ₦2,388,075.17 from retirees who had a break in service, and ₦20,896,477.51 from retirees who overstayed their service. The total sum recovered due to audit interventions during the year amounted to ₦53,089,683.52.
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 December 31, 2023, accurately reflected the financial activities and state of affairs of Osun State.
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