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The Kano State Pension Fund Trustees has reacted to the mistaken transfer of N5.3 million to a wrong beneficiary, saying the error has been identified and steps are being taken to recover the funds.
2. The Director of Finance at the agency, Sunusi Aminu Rano, disclosed this in an interview, confirming that the incident occurred during the latest round of pension payments. According to Rano, the board processed payments for more than 16,000 beneficiaries across the state. He said the N5.3 million case was the only transaction that recorded an error.
According to Rano, the board processed payments for more than 16,000 beneficiaries across the state. He said the N5.3 million case was the only transaction that recorded an error.
He explained that the mistake happened due to similarity in account details. “The last two digits of the intended beneficiary’s account number and the unintended recipient’s account number were alike,” he stated.
The Director said the mix-up was detected during the agency’s post-payment verification exercise, which is part of its internal control process.
Rano assured that immediate action was taken to secure the funds. “We have placed a lien on the recipient’s account to ensure that the money is not withdrawn,” he said.
He added that the Pension Fund Trustees is also working with the bank and legal team to obtain a court order that will authorize the reversal of the transaction and return the money to the rightful pensioner.
The Director reiterated the agency’s commitment to accountability and transparency, and urged pensioners to always confirm their bank details to prevent similar errors in future disbursements.
By Mahmoud Muhammad Kano
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