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St. Kitts & Nevis: Nevis Minister of Finance announces changes in processing NIA payments effective Aug. 21

A statement has been issued by Colin Dore, Permanent Secretary in the Ministry of Finance in the Nevis Island Administration (NIA) , relating to changes in NIA payment processing by the Treasury Department.

“The commercial banking sector has changed its procedure for processing payments issued by NIA’s Treasury Department to persons who would have supplied goods and services to the Administration,” Dore’s statement said. “This would also include changes in the procedure for payment of government salaries, wages and pensions as well.

“Effective immediately, all government payments including the payment of salaries, wages and pensions will be processed through an Electronic Fund Transfer System, operated through the commercial banks rather than the manual procedure previously practiced whereby the Treasury Department would send manual payment listings to the various banks.

“This new system now requires the Treasury Department to upload the payment instructions including salary, wages and pensions onto the payment portal which then routes the payment to the relevant bank for deposit to the accounts of Civil Servants, Pensioners and other suppliers.

“This system is totally electronic and will be used for the first time for the payment of government salaries on Aug. 21. There will be no noticeable effect on the lodgment of funds to your account and we expect that there will be smooth seamless processing of payments on that day.

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