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President Buhari approves N22.68b as entitlements for defunct Nigeria Airways staff

Valentine Chinyem

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President Muhammadu Buhari has approved N22.68 billion, as emoluments for the former staff of the failed Nigeria Airways.

This is coming fifteen years after the national carrier folded up in 2003.

The Finance Ministry made this known via its official tweeter handle, @FinMinNigeria on Monday.

It said the amount is 50 per cent of the agreed N45 billion meant for them, following thorough verification by the Presidential Initiative on Continuous Audit (PICA) and other relevant stakeholders in line with the conditions of service of Nigeria Airways Limited in liquidation and other extant rules and regulations.

The tweet read: ““President Muhammadu Buhari has graciously approved the immediate release of N22.68 billion & N20billion 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.”

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