$2.5bn Military Pension Fund Scandal: No Money Is Missing – MPB Denies Embezzlement Allegation Linked To ex-Service Chiefs

The Military Pension Board has denied allegation of embezzlement of over N2.5billion of Military Pensioners funds leveled against the board chairman and the former service chiefs.

BIGPENNGR understands the denial followed reports in the media that the money released by the Central Bank of Nigeria, CBN, to the Military Pension Board, MPB, was looted the same day through an unprecedented wire to phony names.

According to reports which originally appeared in Pointblanknews.com, before its went viral, the Chairman of the Military Pension Board, Commodore Saburi Abayomi Lawal had on December 31, 2020, allegedly connived with some top Military Chiefs and looted the over N2.5billion wired into the Military Pension account.

Multiple reports in the media alleged that the sacked Service Chief of Defence Staff, General Abayomi Olonisakin Chief of Army Staff, Lt-Gen. Tukur Buratai; Chief of Naval Staff, Vice Admiral Ibok Ekwe Ibas; and Chief of Air Staff, Air Marshal Sadique Abubakar, all may have benefitted from the N2.5billion in December 2020.

But reacting to the allegations, the Military Pension Board in a statement signed by its Public Relations Officer, Flight Lieutenant Olayinka Lawal, said that the allegation was figment of the imagination of the author saying that no fund is missing in MPB.

Lawal, also said that no amount of money was illegally transferred from MPB account at the CBN to anyone within or outside Nigeria.

Besides, the statement absolved its chairman of MPB and the service chiefs mentioned in the viral publications, saying specifically that MPB has no link with the names published in the “false publication”.

The statement reads; “The Attention of the Military Pensions Board has been drawn to an outrageous and spurious publication in the social media purporting that an imaginary whooping sum of N2.5billion of MPB funds were shared or looted by some persons.

“The Military Pensions Board (MPB) wishes to inform our esteemed pensioners and all Nigerians to disregard, in totality, the deliberate falsehood being peddled by these online and social media news outlets that such amount of money was misappropriated by the MPB in conjunction with some “top Military Chiefs”.

“For the avoidance of doubt, it is important to state clearly that no fund is missing and no amount of money was illegally transferred from MPB account at the CBN to anyone within or outside Nigeria, apart from qualified military retirees or their NOKs. Our operations are transparent and the records are up to date.

“The MPB has no link with the names published in the false publication. There are no records of the names listed in the publication at the Military Pensions Board.

“Although, MPB would have simply ignored the blatant lie peddled by these agents, but has chosen to set the records straight and defend itself in the court of public opinion. Nigerians are please urged to enquire from qualified military pensioners across the country on the promptness of the payment of their entitlements. As at today, MPB does not owe any pensioner monthly pensions and will continue to work assiduously to ensure that the standards are maintained.

“Finally, our esteemed retirees are assured of our devotion to sustain the prompt payment of all entitlements of military retirees or their NOKs in a transparent and accountable manner and to uphold principles of fairness and service to humanity in the discharge of the Board’s mandate. While thanking you for your usual support and understanding please accept the assurances and esteemed regards of the Chairman, MPB”.