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Retired Military Personnel In Adamawa Urge Establishment Of Specialized Bank To Alleviate Financial Hardships
Retired Military Personnel In Adamawa Urge Establishment Of Specialized Bank To Alleviate Financial Hardships....KINDLY READ THE FULL STORY HERE▶
Retired military personnel in Adamawa State expressed their dismay over challenging living conditions and urged the Federal Government to establish a dedicated financial institution to provide them with accessible loans to address their needs……..CONTINUE READING
The state chairman of the Nigerian Legion, Warrant Officer Ali Mohammed (rtd), conveyed the concerns of the veterans in Yola, emphasizing the inadequacy of conventional banks in assisting them. He spoke to the press during the sidelines of the 2024 Nigerian Armed Forces Remembrance Day.
Mohammed highlighted the insufficient retirement benefits and pensions received from the Federal Government, asserting that many retirees face hardships such as lack of housing and the inability to support their children’s education. He lamented the disparity between retired military personnel and their counterparts in the civil service, citing examples of former soldiers working as low-paid private security guards.
To improve their quality of life, Mohammed proposed the establishment of a specialized financial scheme to cater to the unique needs of retired military personnel. He emphasized the importance of a financial institution in each of the 36 states, allowing veterans to obtain loans based on their pensions as collateral for expenses like school fees.
He argued that the existing situation was dire, with conventional banks often dismissing their loan requests due to their retired status. Mohammed stressed the necessity of a more supportive financial arrangement for the veteran community.
During the Armed Forces Remembrance Day celebration at Ahmadu Ribadu Square in Yola, the state Deputy Governor, Professor Kaletapwa Farauta, representing Governor Ahmadu Fintiri, appealed to all Nigerians to be mindful of retired military personnel and their families. Recognizing the sacrifices made by these individuals for the nation, she urged citizens to act as “brothers’ keepers” by assisting them in various ways within their communities.
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