Would you like to receive notifications on latest updates of the following headlines?

eTranzact Deploys Digital Verification for Military Pensioners

POSTED ON July 9, 2024 •   Breaking News      BY Abiodun Saheed Omodara
eTranzact Logo l Credit: LinkedIn

eTranzact, a leading fintech company, has launched a digital verification system for military pensioners in partnership with the Military Pensions Board.

According to the firm in a statement, the system, approved by the Federal Government, aims to enhance the welfare of military retirees by streamlining pension verification processes.

The digital system, launched on July 1, 2024, replaced traditional physical verification methods, reducing travel risks and transportation costs for pensioners, the fintech operator said.

The Chairman of the Military Pensions Board, Air Vice Marshal Paul Irumheson, underscored the importance of the transition, emphasising the safety and convenience of electronic verification.

“With this innovative solution, military retirees can verify their status from anywhere in the world, significantly reducing the burden of travel and associated risks.

“This milestone marks a significant step in leveraging technology to improve the lives of military retirees in Nigeria,” the operator noted.

The company revealed that the successful pilot exercise conducted between February 15 and March 1, 2024, demonstrated the efficiency and reliability of the new system.

In addition to developing the verification system, eTranzact disclosed that it had managed salary payments for other government agencies.

“The implementation of this electronic verification system is a critical step towards ensuring foolproof and seamless payment processes within the Military Pensions Board,” the firm added.

According to the firm, the Minister of State for Defense, Dr Bello Matawalle, and the Chief of Defense Staff, General Christopher Musa, have endorsed the electronic verification exercise, recognising its potential to revolutionise the military pensions system.

The key benefits of the digital verification system, according to fintech, include enhanced security by reducing the risk of identity fraud and impersonation, convenience by allowing pensioners to complete verification from their homes, cost efficiency by eliminating the need for travel, and accessibility by accommodating pensioners residing both within and outside Nigeria.

The Chief Executive Officer of eTranzact, Niyi Toluwalope, expressed enthusiasm about the partnership, saying, “We are honoured to collaborate with the Military Pensions Board on this transformative project.

“At eTranzact, we are committed to harnessing the power of technology to solve critical challenges and improve the quality of life of Nigerians. This digital verification system affirms our dedication to innovation and excellence.”

eTranzact is a leading financial technology company providing innovative payment solutions and technology services.

READ ALSO
Controller General Issues Urgent Security Directive for Correctional Facilities
BY Abiodun Saheed Omodara June 4, 2025 0

The Controller General of Corrections, Sylvester Nwakuche, has issued a strict order to all Zonal Co...

READ ALSO
NEMA Mobilizes Teams to 15 States Amid Flood Warnings
BY Abiodun Saheed Omodara June 4, 2025 0

The National Emergency Management Agency (NEMA) has sent officials to 15 high-risk states to educate...

READ ALSO
Road Maintenance Crisis: FERMA Requires N880 Billion Yearly Amid Budget Shortfalls
BY Abiodun Saheed Omodara June 3, 2025 0

ABUJA, Nigeria - The Federal Government needs approximately N880 billion each year for the upkeep of...

READ ALSO
FG Declares Friday, Monday public holiday for Eid-el-Kabir
BY Abiodun Saheed Omodara June 2, 2025 0

The Federal Government has declared Friday, June 6, and Monday, June 9, 2025, as public holidays to...

READ ALSO
Lagos Govt. Threaten Closure of Market, Over Non-Compliance of Environmental Regulations
BY Abiodun Saheed Omodara June 2, 2025 0

LAGOS, Nigeria - The Lagos State Government issued a warning on Sunday to traders at Alabarago Marke...

READ ALSO
FG Unveils 77,400 Units to Combat Nigeria's Housing Shortage
BY Abiodun Saheed Omodara June 2, 2025 0

The Federal Government has launched a groundbreaking initiative as part of the Renewed Hope Agenda,...

READ ALSO
LASG Set to Revive Monthly Environmental Sanitation Exercise
BY Abiodun Saheed Omodara June 2, 2025 0

LAGOS, Nigeria - Determined to ensure Lagosians adhere strictly to the hygiene standards that befits...

READ ALSO
Bandits to Take Control of Governance - El-Rufai
BY Abiodun Saheed Omodara June 1, 2025 0

Former Kaduna State Governor, Nasir El-Rufai, has stated that Nigerians have permitted bandits to as...

OUR CHANNELS:

Enugu Proposes Bill to Curb Criminal Activities Linked to Traditional Practitioners
BY Abiodun Saheed Omodara June 6, 2025 0

ENUGU, Nigeria - Enugu State Governor Peter Mbah has proposed an Executive Bill to the Enugu State H...


Bill Gates Advocates for Improved Health Care in Nigeria Amid Budget Constraints
BY Abiodun Saheed Omodara June 6, 2025 0

US billionaire Bill Gates, who chairs the Gates Foundation, expressed that Nigeria’s health bu...


Controller General Issues Urgent Security Directive for Correctional Facilities
BY Abiodun Saheed Omodara June 6, 2025 0

The Controller General of Corrections, Sylvester Nwakuche, has issued a strict order to all Zonal Co...


NEMA Mobilizes Teams to 15 States Amid Flood Warnings
BY Abiodun Saheed Omodara June 5, 2025 0

The National Emergency Management Agency (NEMA) has sent officials to 15 high-risk states to educate...


Edo Faces Diphtheria Outbreak, Two Confirmed Deaths
BY Abiodun Saheed Omodara June 5, 2025 0

EDO, Nigeria (NAN) - A diphtheria outbreak has been confirmed in Edo State, resulting in two deaths....


Tinubu Honors Bill Gates with National Award for Global Philanthropy
BY Abiodun Saheed Omodara June 5, 2025 0

LAGOS, Nigeria - President Bola Tinubu commended Bill Gates, the co-founder of Microsoft and chairma...


Bahrain, Colombia, DRC, Latvia, and Liberia Join UN Security Council for 2026-2027 Term
BY Abiodun Saheed Omodara June 5, 2025 0

The UN General Assembly on Tuesday elected five new non-permanent members to the UN Security Council...


Tinubu Orders Urgent Repairs on Flood-Damaged Bridge in Mokwa
BY Abiodun Saheed Omodara June 5, 2025 0

NIGER, Nigeria (NAN)- President Bola Tinubu has instructed the Federal Ministry of Works to repair t...


Nigeria Needs ₦2.2 Trillion to Eliminate Cervical Cancer by 2030, Says Task Force Chair
BY Abiodun Saheed Omodara June 5, 2025 0

ABUJA, Nigeria — Nigeria will need ₦2.2 trillion to roll out comprehensive cervical cancer ini...


EFCC Charges Two Men for Posing as Fake Sureties in Illegal Mining Case
BY Abiodun Saheed Omodara June 4, 2025 0

The Economic and Financial Crimes Commission (EFCC) has charged two individuals, Shehu Abdu and Isah...


More Articles

Load more...

Menu