The Buhari led Government has approved the sum of ₦22.68bn for the payment of retirement benefits to former workers of liquidated Nigerian Airways Ltd (NAL).
The amount which was approved by President Muhammadu Buhari represent about 50% of the ₦45.3bn entitlements of the ex workers of the company.
The Minister of Finance, Mrs Zainab Ahmed disclosed this on Monday in Abuja during a press briefing held at the headquarters of the Ministry of Finance.
Apart from the ₦22.8bn for the former aviation workers, she said that the sum of ₦20bn was approved for the education sector.
“Upon my resumption of office as the finance minister, some pending fiscal issues in the aviation and education sectors were immediately brought to my attention.
“As such, I took it as a challenge to quickly address key issues regarding the settlement of existing claims in both of these sectors.
“Consequently, upon this, I am happy to inform you that Mr President has graciously approved the sum of ₦22.68bn and ₦20bn to aviation and education sectors respectively”, she said.
The minister said the initial outstanding retirement benefits due to former worker of the NAL based on their submission was ₦78bn.
She said after a verification exercise by the Presidential Initiative on Continuous Audit and other relevant stakeholders in line with the condition of service of the liquidated NAL, it was the sum of ₦45bn was agreed as the total retirement benefits to the affected staff.
It would be recalled that the ex workers of NAL, stationed in Nigeria, were not paid their retirement benefits for the past 15 years after liquidation whereas their counterparts who were stationed outside the country at the time of liquidation had since their benefits and entitlements.