The Federal Government has wrapped up the disbursement of unpaid benefits to 600 former staff members of Nigeria Airways Limited, releasing a net amount of ₦4.038 billion to successfully close out the compensation process for all 2,700 targeted beneficiaries under this scheme.
In a press statement, the government said the latest payment followed an earlier disbursement to 2,100 former workers who had waited more than two decades for their entitlements under an intervention involving approximately ₦18 billion.
“The total gross payment to the 600 beneficiaries was ₦4,251,043,000.19, from which deductions of ₦212,552,150.01 were made, leaving a net payment of ₦4,038,490,850.18,” the statement said.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, had earlier announced that the government was finalising payments to the remaining eligible beneficiaries following an extensive verification exercise.
The exercise was aimed at establishing genuine claims and ensuring accountability in the disbursement of public funds.
The statement said the completion of the payments fulfilled the government’s commitment to settling the verified entitlements of the 2,700 former employees covered by the intervention, following President Bola Tinubu’s directive to resolve the decades-long issue.
It added that a mop-up exercise would address outstanding eligible cases involving former workers whose records were not captured during the initial process or whose documentation required further verification.
The government said the settlement formed part of its broader fiscal reform agenda, which seeks to combine prudent public financial management with the timely fulfilment of legitimate obligations to Nigerians.
What You Should Know
This development marks the final phase of a long-standing financial intervention to settle verified entitlements for former workers of the defunct national carrier after more than twenty years of waiting.
- Positive Impact: Brings long-awaited financial relief and closure to hundreds of retired workers and their families who have suffered delays for decades.
- Potential Concerns: While the primary batch is settled, a mop-up exercise remains necessary to capture individuals whose documentation or records require further verification.
