President Muhammadu Buhari has approved the immediate release of N22.68 billion as retirement benefits for ex-workers of Nigeria Airways. This was disclosed by the Ministry of Finance this Monday.
According to the statement by the ministry, the move came after an initial submission by the former workers, which totalled their benefits as N78 billion.
However, after a verification by the Presidential Initiative on Continuous Audit (PICA) other relevant stakeholders in line with the conditions of service of Nigeria Airways Limited in liquidation and other extant rules and regulations, N45 billion was agreed as total retirement benefits of affected staff.
The release of the funds was posted 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.”
President Muhammadu Buhari in his determination to revitalize Public Universities and ensure smooth running of the tertiary education system, has approved the sum of N20 billion for immediate release for Public Universities through the revitalization scheme. pic.twitter.com/uWjJhh4F0j
— Ministry of Finance (@FinMinNigeria) September 24, 2018