President Muhammadu Buhari has approved the immediate release of N22.68 billion for settlement of the retirement benefits of ex-workers of the Nigeria Airways Limited, more than 15 years after the liquidation of the defunct airline.
The president has also approved the release of N20 billion to revitalise public universities in line with demands of the Academic Staff of Universities (ASUU).
The Minister of Finance, Zainab Ahmed, made the disclosure in Abuja on Monday.
She said the money for the universities will be released through normal channels while that of the ex-airways workers would be paid after verification.
The minister, who announced the setting up of a nine-member committee to verify the claims of the ex-workers, said the money approved was 50 percent of their N45 billion benefits.
She said: “As you are aware, the ex-workers of Nigeria Airways Limited in liquidation were not paid their retirement benefits for the past 15 years despite the liquidation.
“As a result of the delays in settlement of these benefits, many ex-workers have been thrown out of their houses, their children have been unable to attend school, and others have lost their businesses, fallen ill or indeed, passed on.
“This unfortunate situation cannot be allowed to continue under a responsible administration.
“It is on this basis that Mr President has approved the immediate release of N22.68 billion being 50 per cent of N45.3 billion total entitlements of the ex-workers of the Nigeria Airways Limited in liquidation.”
Ahmed said that the committee is headed by Mohammed Dikwa, director of presidential initiative on continuous audit.
Other members would be drawn from the office of the head of service, ministries of aviation and finance, Bureau of Public Enterprises, accountant-general office, Pension Transitional Arrangement Directorate, the ex-workers union, and the budget office.
“The committee is mandated to physically verify the claims of pensioners and relevant next-of-kin before the release of funds to the approved beneficiaries,” she said.
The minister also explained that the N20 billion for the universities will be released immediately in line with the established criteria used by the National Universities Commission (NUC).
Search The Poise
Promote Your Music
Recent Posts On The Poise
- Idahams Enlists Peruzzi & Seyi Shay For “Shima”
- Depay in pole position for Barcelona move, Man Utd want two signings
- Luis Suarez applauds Atletico fighting spirit after Barca switch
- My 2nd Album Is Going To Be One Of My Biggest Project Ever – Yinka Rythmz
- Watford close in on William Troost-Ekong
- ‘The Simpsons’ replaces Hank Azaria with Alex Désert as the Voice of Carl in season 32 premiere
- Tiwa Savage, Gambian Kora Great grace Glo-sponsored African Voices
- Lindelof could pay price for defensive lapses – Solskjaer
- Mendy will have to wait for Chelsea debut – Lampard
- ‘We Determine Those Who Visit Our Country‘ – UK Replies FG
Top Posts & Pages
Entertainment News3 years ago
Justin Bieber & Selena Gomez Have Started Hanging Out Again
Articles3 years ago
Marcus Rashford’s Girlfriend Lucia Loi
Photos3 years ago
Leroy Sane’s Girlfriend Candice Brook
Celebrities2 years ago
David Beckham Allegedly Got His Daughter’s Teacher Pregnant
News2 years ago
Nigeria Gets Fresh $200m Loan To Finance Electricity Projects
Celebrities3 years ago
Jesse Lingard Breaks Up With Girlfriend Jena Frumes
Sport2 years ago
Bournemouth Signs Liverpool Defender Nathaniel Clyne On Loan
Entertainment News3 years ago
Top 10 Sexiest Young Female Celebrities in The World