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… Approves N1.2bn To Offset Pension Arrears

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The Federal Capital Territory Administration (FCTA) has approved the sum N1, 284,000 000.00 as payment to 247 retired officers of the six area councils and staff of the Local Education Authorities (LEAs) of the Federal Capital Territory (FCT).

Director/chief executive, FCT Area Council Staff Pension Board, Nanzing N. Eden, who disclosed this to newsmen in Abuja at the weekend, explained that the approval represents payment to beneficiaries up to April this year.

Eden added that the payment is strictly for those pensioners who have been reconciled for up to April, this year, which according to him, is different from an outstanding N138 million liability for additional 31 pensioners, whose files have been received from May 2019 to date.

He stated that the payment, which was approved by the immediate minister of the FCT, Malam Muhammad Musa Bello, would commence immediately the necessary processes of the vouchers were concluded by the account department.

The director also disclosed that from December this year, the board would commence payment of benefits to retirees three months ahead of their retirement date, adding that the idea is to move away from the former system where retirees stay for years before receiving their benefits.

“By 2020, our mission is to pay six months ahead of retirement date. That is one of the approvals we received from the immediate past minister of the FCT, Malam Muhammad Musa Bello. We are also grateful to the FCT permanent secretary, Sir Chinyeaka Ohaa, for directing the treasury department to ensure payment of these funds from the pension funds.”

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