The Military Pensions Board (MPB) says it has offset the 24-month arrears of minimum wage owed retirees of the Armed Forces.
Disclosing this was th Chairman of the Board, Rear Admiral SA Lawal, in a statement on Friday.
He said that payment for the final tranche of 25 percent of the 24 months arrears, commenced on November 3, 2022.
According to him, the payment was in congruence with the promise made by the Board after the payment of the third tranche of the minimum wage arrears on 4 August 2022.
“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,” he said
Lawal 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”.
He appreciated the military retirees for being patient and understanding with them.