The Military Pensions Board (MPB) said it has cleared the 24-month arrears of minimum wage owed retirees of the Armed Forces.
The Chairman of the Board, Chairman Military Pensions Board Rear Admiral SA Lawal, in a statement, said that payment for the final tranche of 25 percent of the 24 months arrears, commenced on November 3, 2022.
He said the payment was in line with the promise made by the Board after the payment of the third tranche of the minimum wage arrears on 4 August 2022.
According to him: “The fourth and final tranche is being paid to eligible military retirees who are active on the Board’s data base and it is in fulfillment of the agreement reached between the Board and the Federal Ministry of Finance, Budget and National Planning (FMoFBNP) for quarterly release of the appropriated sum this year.
“All eligible Military Pensioners are therefore advised to contact their respective banks for their entitlements”.
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He added: “On behalf of our esteemed military pensioners, the Board wishes to thank President Muhammadu Buhari GCFR for his immense support to the Board and military retirees.
“Also, the Board extends its appreciation to the Honorable Minister of Defence, Maj Gen BS Magashi (Rtd), the Honorable Minister of Finance Budget and National planning Hajia Zainab Ahmed, the Chief of Defence Staff, Gen LEO Irabor as well as the Service Chiefs for their support and Intervention towards ensuring that funds for settling these arrears were appropriated for in the 2022 appropriation Act and cash backed accordingly”.
The Board Chairman, thanked the military retirees for their “patience, understanding and continued support”.
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