News

Tinubu Approves Release of Funds for Payment of Retired Military Personnel Following Protest at Finance Ministry

Published by Tope Fakinlede on December 6th, 2024.

Tinubu Approves Release of Funds for Payment of Retired Military Personnel Following Protest at Finance Ministry

Bola Ahmed Tinubu

President Bola Tinubu has directed the release of funds to settle pension arrears, salary increments, and other outstanding entitlements owed to retired military personnel after they staged a peaceful protest outside the Federal Ministry of Finance.

The retired soldiers, organized under the Coalition of Concerned Veterans (CCV), had demonstrated for two days in Abuja, demanding payment of a 20% and 28% salary increase that had been pending for 11 months. They had made it clear that they would not leave the gates of the Finance Ministry until they received payment alerts, even staying overnight to press their demands.

Reports indicated that the veterans disrupted activities at the Finance Ministry, playing music, displaying banners, and holding placards as part of their protest. The standoff drew attention and intensified pressure for a resolution.

On Friday, the Minister of State for Defence, Dr. Bello Matawalle, confirmed that President Tinubu had acted swiftly to authorize the release of funds to cover the salary increases, pension arrears, and other owed entitlements. Matawalle expressed gratitude to the President for his prompt response and praised Tinubu for ensuring the timely disbursement of the three-month salary increase.

In a statement from the Ministry of Defence, spokesperson Mr. Henshaw Ogubike confirmed that the payment alerts had already been sent to the retirees. The Minister also thanked the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, for his efforts in facilitating the smooth distribution of funds.

Matawalle took the opportunity to encourage the Nigerian military to remain committed to their roles, reinforcing the President’s determination to uplift the morale of personnel and provide the necessary support to address national security concerns.

In addition to the salary increments, the protesting veterans also raised other concerns, including the non-payment of palliative funds for the period from October 2023 to November 2024, issues with bulk SDA payments based on a new template, and the need to review and pass the VFN bill in line with international best practices.

The Minister of Finance, Mr. Wale Edun, addressed the protesters on Wednesday night, assuring them that the matter would be resolved quickly. He committed to paying 50% of the owed 20% and 28% salary increases and an amount of 320,000 Naira as a minimum wage, with further discussions to continue the following morning.