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					Payment of 2nd Batch of Monetization Arrears
I reproduce herewith circular from the Office of the Secretary to the Federal Government of
Nigeria, Federal Secretariat, Abuja as stated in Punch Newspaper online of Tuesday 11th May,
2010 that arrangement had been concluded for the second and final payments of
monetization arrears to beneficiaries whose claims were verified and had received part-
payment last year.

“Agencies whose claims were verified and part-payment made to beneficiaries in the first
batch are hereby urged to update the bank account details of such employees with a view to
eliminating shortcomings and ensuring smooth payments. This update should include
beneficiaries who are yet to receive their first payments due to errors in their bank details.
All affected agencies should note that due to issues in software compatibility, bank account
details of financial institutions that do not go through clearing house settlement system
would not be accepted. Where beneficiaries are no longer in service for any reason and
difficulties encountered in capturing their relevant bank account details, such cases should
be treated under a separate caption in the submission”.

Staff members who have accounts with Microfinance Banks should please liaise with their
Bank Managers and request them as a matter of urgency to open corporate accounts with
Commercial Banks for the purpose of the payment of the monetization arrears only.

Such staff are assured that their monthly salaries will continue to be paid through their
Microfinance Bank accounts.


signed

O. Odeyemi (Mrs.)
Bursar

				
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