President Muhammadu Buhari has approved a total sum o N42.68 billion naira which comprises of N22.68 meant for the retirement benefit of ex-workers of Nigeria Airways Limited and N20 billion for ASUU’s request for revitalization fund for public universities respectively.
According to a statement by the ministry of finance, the approval of the amount paid to the ex-workers of Nigeria Airways Limited came after the former workers initially submitted the amount of their benefit to be N78billion.
The approval of the fund was confirmed in a tweet by the ministry’s handle, reading:
“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.”
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.
— Ministry of Finance (@FinMinNigeria) September 24, 2018