Military Pension Board blames CBN, banks for failing to pay retirees

“It has…come to the notice of the board that bank accounts of some of our esteemed pensioners are yet to be credited with their entitlements.”

News Agency of Nigeria • January 18, 2023

Central Bank of Nigeria and CBN Governor, Godwin Emefiele

Military Pensions Board says the delay in the receipt of payment of Security Debarment Allowance (SDA) by eligible military retirees was due to hitches between the Central Bank of Nigeria (CBN) and disbursing banks.

The chairman of the board, Saburi Lawal, stated this in a statement on Wednesday. He said the delay did not emanate from the board but from technical hitches experienced between the CBN and the disbursing banks of the retirees and next-of-kins (NOK) of deceased pensioners.

Mr Lawal explained that the board had assured the retirees that the situation would be resolved and commence payment.

“It has, however, come to the notice of the board that bank accounts of some of our esteemed pensioners are yet to be credited with their entitlements, especially for those banking with the Unity Bank, Access Bank, Eco Bank, Keystone Bank and Heritage Bank,” explained the pension board boss. “It is pertinent to clarify that the delay is not caused by the board. It is as a result of some technical hitches experienced in the execution of the MPB’s mandate by the Central Bank of Nigeria (CBN) and the commercial banks earlier mentioned.”

He added, “Notwithstanding this development, the board is assuring our esteemed pensioners that the MPB is on top of the situation as efforts are being made to ensure all eligible pensioners get paid as soon as possible. Furthermore, the board is using this medium to request all members of veteran associations to please inform NOKs of deceased pensioners that payment of SDA to eligible deceased military pensioners will commence on Thursday, January 19.”

Mr Lawal also urged the NOKs of eligible deceased military personnel who died after November 9, 2017, to contact their respective banks for their entitlements. He also advised those whose bank account details were not with the board to apply to the chairman MPB for their entitlements formally.

He said such applications should be accompanied by a copy of the death certificate of the deceased pensioner, discharge certificate, retirement letter and affidavit as to NOK of the deceased.

(NAN)

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