Kano Pension Board begins legal action to recover N5.3m mistaken payment
Kano State Pension Board Seeks Legal Remedy for Misallocated Funds
KANO, Nigeria — The Kano State Pension Board has initiated legal proceedings to recover the sum of 5,346,587.16 Nigerian Naira that was erroneously deposited into an incorrect bank account during a recent bulk pension payment processed through Jaiz Bank.
Sunusi Aminu Rano, the board’s Director of Finance, disclosed in a statement on Saturday that the error stemmed from a mistake during data entry. The final two digits of the beneficiary’s account number were mistakenly input as “38” instead of “83,” leading to the funds being transferred to an unintended account.
Upon identifying the mistake, the board promptly contacted Jaiz Bank and formally reported the erroneous transaction. Rano noted that the bank informed the board that a court order was necessary to reverse the transfer, in accordance with standard banking procedures and regulations.
The board has commenced the legal process to secure the required court order, which is anticipated to be finalized by Monday. Once obtained, the order will be presented to Jaiz Bank to facilitate the return of the funds.
In the statement, the Pension Board apologized for the incident and reassured both pensioners and the public of its commitment to managing the issue transparently and legally. “We sincerely regret this unfortunate error and reaffirm our commitment to resolving the matter promptly, transparently, and in accordance with all legal and regulatory requirements,” the statement said.
