President Muhammadu Buhari has approved the immediate release of N22.68 billion as retirement benefits for ex-workers of Nigeria Airways.
He also approved the sum of N20billion for the Academic Staff Union of Universities (ASUU)
This was disclosed by the Ministry of Finance on Monday.
According to the statement by the ministry, the move came after an initial submission by the former workers of the Nigeria airways, 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.
According to reports, this benefit for the former workers is coming after 15 years and the Ministry of Finance shared the news via their handle, saying:
“President Muhammadu Buhari has graciously approved the immediate release of N22.68billion & N20billion as retirement benefits of ex-workers of the Nigeria Airways 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.”