Typing Error Sends N5.3m Pension Funds To Wrong Account In Kano
The Kano State Pension Board has commenced legal action to recover ₦5.3 million mistakenly transferred into the wrong bank account during a bulk pension payment through Jaiz Bank.
In a statement on Saturday, the board’s Director of Finance, Sunusi Aminu Rano, said the error occurred during data collection when the last two digits of the intended beneficiary’s account number were mistakenly entered as “38” instead of “83.”
Rano said the mistake resulted in the pension funds being paid into the wrong account, prompting the board to immediately notify Jaiz Bank. However, the bank informed the board that a court order was required before the transaction could be reversed in line with banking regulations.
He disclosed that the board had already begun legal proceedings to obtain the court order, which is expected to be secured on Monday before being presented to the bank to facilitate the recovery of the funds.
The Pension Board apologised for the incident and assured pensioners and the public that the matter would be handled transparently and in accordance with the law.
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