Buhari Releases N22.68bn To Nigeria Airways Retirees

President Muhammadu Buhari, on Monday, approved the immediate release of N22.68 billion for the payment of retirement benefits to former workers of liquidated Nigerian Airways Ltd.

The approved amount is about 50 per cent of the N45.3bn entitlements of the former workers.

The Minister of Finance, Mrs Zainab Ahmed said this during a press briefing at the headquarters of the Ministry of Finance.

The statement posted in a tweet by the ministry’s handle, read: “President Muhammadu Buhari has graciously approved the immediate release of N22.68billion & N20billion as retirement benefits of ex-workers of the NigeriaAirways limited (in Liquidation) & ASUU’s request for revitalization fund of public universities.

“Regarding the settlement of outstanding retirement benefits due to the ex-workers of the Nigeria Airways, the initial submission for their retirement benefits was N78 billion.

“This amount was verified by PICA & other relevant stakeholders in line with the conditions of service of Nigeria Airways Limited in liquidation and other extant rules and regulations. At the end of verification, N45 billion was agreed as total retirement benefits of affected staff.”