Nigerian Airways retirees to get N22.68billion retirement benefits

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President Mohammadu Buhari
President Mohammadu Buhari

Soothing news came the way of agitated retirees of defunct Nigeria Airways following President Muhammadu Buhari’s approval of N22.68 billion to be paid to them immediately.


The ex-workers and their emoluments have been subjected to endless political scheming since the national airline was liquidated in 2003.

The Finance Ministry which made the disclosure via its official Twitter handle, @FinMinNigeria on Monday, said amount is 50 percent of the agreed N45 billion meant for them.

According to the Ministry, the move came after an initial submission by the former workers, which put their benefits at 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 tweet read: “President Muhammadu Buhari has graciously approved the immediate release of N22.68 billion & N20 billion as retirement benefits of ex-workers of the Nigeria Airways limited (in Liquidation) & ASUU’s request for revitalisation 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.”

In the last 15 years, scores of the staff of the liquidated airline have held several rallies to press for the payment of their entitlements, with scores of them said to have died in penury, while awaiting the payment.

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