A Nigerian businessman, Abayomi Awoboku, has donated shares in Dangote Refinery and Petroleum to 24 retired police officers in recognition of their years of service.
Awoboku, the Chief Executive Officer of Konstrutum Construction, made the donation to officers who recently retired from the State Criminal Investigation Department in Yaba, Lagos.
According to The Guardian, the shares are worth millions of naira, although the exact value allocated to each beneficiary was not disclosed.
Businessman rewards retired officers
The donation was announced during a retirement reception organised in honour of the officers.
Awoboku explained that the gesture was intended to acknowledge their dedication to public service.
The beneficiaries reportedly completed 35 years of service in the Nigeria Police Force.
The businessman said recognising retired officers could encourage serving personnel and demonstrate that their contributions to national security were appreciated.
Investment firm to manage shares
The report disclosed that Awoboku had engaged a professional investment firm to manage the donated shares.
The arrangement is intended to support effective management of the investment and help beneficiaries receive returns where available.
However, the businessman did not publicly announce a guaranteed dividend or specific return for each retired officer.
The gesture provides the beneficiaries with investment assets rather than an announced direct cash payment.
Donation follows police retirement event
The presentation followed activities connected with a visit by Inspector-General of Police Olatunji Disu to the State Criminal Investigation Department.
Disu had attended a retirement ceremony involving the affected personnel several months earlier.
The event brought attention to the importance of supporting officers after leaving active service.
Recognition for years of service
The initiative has added to discussions about retirement welfare and financial planning for public servants.
Police officers who retire after decades of service depend on pensions, personal savings and other sources of income to meet their financial needs.
Awoboku’s donation represents a private initiative intended to provide additional financial support to the recipients.
The exact number of shares, their individual value and the terms under which the investment firm will manage them were not disclosed in the report.
