Kano Pension Board begins legal action to recover N5.3m mistaken payment

The Kano State Pension Board has commenced ineligible enactment to retrieve N5,346,587.16 mistakenly paid into the incorrect slope relationship during a bulk pension outgo done Jaiz Bank.

In a connection on Saturday, the board’s Director of Finance, Sunusi Aminu Rano, said the mistake occurred during information postulation erstwhile the past 2 digits of the intended beneficiary’s relationship fig were entered arsenic “38” alternatively of “83.”

He said the typing mistake resulted successful the pension funds being transferred to the incorrect account.

According to Rano, the committee instantly contacted Jaiz Bank aft discovering the mistake and officially reported the erroneous transfer.

He explained that the slope informed the committee that a tribunal bid was required earlier the wealth could beryllium reversed, successful enactment with banking procedures and regulations.

The committee has already begun the ineligible process to get the tribunal order, which is expected to beryllium acceptable on Monday. Once secured, it volition beryllium presented to Jaiz Bank to alteration the funds to beryllium returned.

The Pension Board apologised for the incidental and assured pensioners and the nationalist that it would grip the substance transparently and wrong the law.

“We sincerely regret this unfortunate mistake and reaffirm our committedness to resolving the substance promptly, transparently, and successful accordance with a...