What Will Nigeria Army Do? After Generous CBN Paid N270m Into A Colonel Salary Account

A senior officer of the Nigerian Army recently received more than one-quarter of a billion naira from the Central Bank of Nigeria (CBN). CONTINUE READING…

In a copy of the two-page letter written to the Army authority and the screenshot of the N270,000,000 credit alert enclosed as evidence.

Colonel MS (surname and service number withheld) addressed a memo dated April 14, 2023, to the Commandant of the Army War College (WU Bassey Barracks) in Asokoro, Abuja.

Titled “Request For Investigation Into The Payment Of Large Sum of Money Into My Salary Account”, he recalled receiving the money on April 3.The Colonel’s bank account was credited with N270,000,000 paid through the CBN Alert System (reference number withheld). CONTINUE READING…

The officer explained that he decided to call the attention of his superiors due to the alarming rate of fraud perpetrated in some government institutions.

“Sir, to the best of my knowledge, my emolument is by no way close to the amount paid, and I am not entitled to such payment from the CBN.

“Additionally, going by the current trend of financial fraud and sharp practices by various institutions, this raises alarm and concern for me,” he wrote.

The Colonel urged the Commandant to uncover the motive behind the payment “with a view to formally reverse it to the Federal Government coffers”. Although it is early to speculate, a thorough probe is expected to reveal why the CBN erroneously transferred such a huge amount to a personal account.

Speaking on Friday on condition of anonymity, an officer at the War College revealed that the Army institution received the petition.

The serviceperson, who said the Commandant had already swung into action, praised the Colonel for displaying patriotism and putting the armed forces in a good light.

“I can confirm that the Commandant is working on the matter; he has informed higher authorities for further action”, he disclosed.

“The officer has done very well and we commend him for his honesty. This would no doubt go a very long way in helping the system.” CONTINUE READING…