The Federal Government has created a dedicated account with the Central Bank of Nigeria for the management and disbursement of the newly approved Exit Benefit Scheme for retiring civil servants, in a move aimed at safeguarding funds and ensuring transparency in the payment of retirement benefits.
The development is contained in an implementation guideline accompanying the Exit Benefit Scheme obtained exclusively by The PUNCH.
The guideline, signed by the Head of the Civil Service of the Federation, Didi Walson-Jack, disclosed that the special account would be domiciled with the CBN and managed by the National Pension Commission as the sole repository of funds earmarked for the scheme.
It stated, “To facilitate efficient management and accountability, a dedicated Exit Benefit Scheme Account shall be maintained with the Central Bank of Nigeria under the management of PenCom.”
The document added, “This account shall be operated solely for the purpose of financing the
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