The Military Pensions Board on Tuesday announced the payment of the third tranche of the Security Debarment Allowance to eligible military retirees and next-of-kins of deceased pensioners.
The Chairman of the board, Rear Admiral Saburi Lawal, made this known in a statement issued in Abuja on Tuesday.
Lawal said payment of the third tranche represented the third quarterly payment of the SDA for the year 2023.
He said it was in fulfilment of the pledge made by the board after the payment of the first and second tranches, that payment of subsequent tranches would be effected promptly once funds were made available by the Federal Ministry of Finance, Budget and National Planning.
According to him, payment of the third tranche was to the military pensioners who were active on the board’s database, as at November 9, 2017.
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Lawal said the payment of the SDA was to give effect to the presidential approval for extension of the payment to military pensioners and retirees who exited the services before November 9 2017.
He said the group was originally excluded from implementation of the provisions of the reviewed Manual of Financial Administration (MAFA) 2017 as it relates to the SDA.
Lawal added: “Gleaning from the foregoing, our esteemed retirees are please to note that the SDA is calculated as a function of 10% of the retiree’s annual basic salary as at the time of retirement, multiplied by the number of years in the service
“All concerned military pensioners/retirees and next of kins of deceased military pensioners are therefore advised to contact their banks for their entitlements.
“The board wishes to assure our esteemed military retirees/pensioners, next of kins of deceased military personnel and other well-meaning Nigerians that the Board remains resolute, and will ensure prompt payment of the remaining tranches of the SDA, subject to release of funds by the Ministry.”