eTranzact launches digital verification system for military pensions
eTranzact has been selected as the technology solution provider for the Military Pensions Board’s (MPB) new digital verification system for military pensioners, marking a transformative step in leveraging technology to enhance the welfare of military retirees across Nigeria. Officially launched on July 1, 2024, this innovative system promises to streamline pension verification processes, providing significant benefits for retired military personnel.
In a press statement, eTranzact highlighted the importance of this initiative, noting that it signifies a major milestone in the use of technology to improve public service efficiency. With the approval of the Federal Government, the MPB is shifting from traditional physical verification methods to an advanced electronic system developed and deployed by eTranzact. This transition is aimed at reducing travel risks, minimizing transportation costs, and accommodating the advanced age of many pensioners.
Air Vice Marshal Paul Irumheson, Chairman of the Military Pensions Board, emphasized the necessity of this transition. “The move to electronic verification is crucial for the safety and convenience of military pensioners. This innovative solution will ensure that retirees can verify their status from anywhere in the world, significantly reducing the burden of travel and associated risks,” he stated.
The successful pilot exercise, conducted between February 15 and March 1, 2024, demonstrated the efficiency and reliability of the new system. This electronic verification system represents a critical step towards ensuring foolproof and seamless payment processes within the MPB, according to eTranzact.
In addition to developing the verification system, eTranzact has a history of managing salary payments for other government agencies. The implementation of this electronic verification system is expected to significantly enhance the security and efficiency of the military pensions process.
Minister of State for Defence, Dr. Bello Matawalle, and the Chief of Defence Staff, General Christopher Musa, have both endorsed the electronic verification exercise. They recognize its potential to revolutionize the military pensions system. The key benefits of the digital verification system 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 press statement outlined these benefits in detail, highlighting the comprehensive impact the new system is expected to have on military pensioners. By reducing the need for travel, the system will lower transportation costs and minimize travel-related risks for elderly retirees. Furthermore, the system’s advanced security measures will help prevent identity fraud and impersonation, ensuring that only legitimate pensioners receive benefits.
Niyi Toluwalope, CEO of eTranzact, expressed his enthusiasm for the partnership with the Military Pensions Board. “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,” he said.
The deployment of this digital system marks a significant advancement in Nigeria’s public service infrastructure. By leveraging cutting-edge technology, the Federal Government and eTranzact are setting a new standard for efficiency and security in public service delivery. This initiative not only benefits military retirees but also sets a precedent for other sectors looking to modernize their operations.
The transition to digital verification is part of a broader strategy by the Federal Government to enhance service delivery across various sectors. This strategy includes initiatives to improve infrastructure, provide training and capacity building, and create a favorable business environment for technological innovations. The collaboration between eTranzact and the Military Pensions Board is a prime example of how public-private partnerships can drive progress and improve the quality of life for citizens.
Military pensioners across Nigeria have welcomed the new system with optimism. Many have expressed relief at the prospect of not having to travel long distances for verification, which can be particularly challenging for elderly and infirm retirees. The ability to complete verification from home or anywhere in the world provides unprecedented convenience and peace of mind.
The successful implementation of the pilot phase indicates that the full rollout of the system will proceed smoothly. The positive feedback from the pilot phase participants underscores the system’s user-friendliness and reliability. As the system becomes fully operational, it is expected to significantly reduce administrative bottlenecks and enhance the overall efficiency of the Military Pensions Board.
The adoption of electronic verification also aligns with global best practices, positioning Nigeria as a leader in the use of technology for public service delivery. This forward-thinking approach demonstrates the government’s commitment to leveraging technology to address critical challenges and improve the lives of its citizens.
In conclusion, the launch of the digital verification system by eTranzact for the Military Pensions Board is a groundbreaking development that promises to revolutionize the military pensions system in Nigeria. By enhancing security, convenience, and cost efficiency, the system will significantly improve the welfare of military retirees. The collaboration between eTranzact and the MPB highlights the transformative potential of technology in public service delivery and sets a new standard for innovation and excellence in Nigeria.
