Nigeria Airways: FG Releases ₦4.25bn for 600 Additional Pension Beneficiaries
The Federal Government has released ₦4.25 billion to settle outstanding pension and severance benefits for 600 additional beneficiaries of the defunct Nigeria Airways Limited.
The latest disbursement brings the total number of beneficiaries who have received payments to 3,300 across 11 batches.
The Federal Ministry of Finance, in a press release, confirmed that the payment covered Batches 010 and 011, amounting to ₦4,251,043,000.19 in gross benefits.
The Ministry explained that 2,700 beneficiaries had received payments under the first nine batches before the latest disbursement extended the settlement to another 600 eligible beneficiaries.
The development marks another step in the Federal Government’s efforts to address outstanding financial obligations to former employees and other eligible beneficiaries of the defunct national carrier.
The payments are expected to ease the financial burden on beneficiaries who have waited for the settlement of their pension and severance entitlements.
Meanwhile, the Ministry said verification and validation of claims submitted by the next of kin of former Nigeria Airways workers remain ongoing.
The exercise is designed to confirm the eligibility of claimants and validate their submissions against approved records before payments are made.
It reiterated its commitment to processing verified claims in accordance with established procedures to ensure that eligible beneficiaries receive their outstanding entitlements.
The Federal Government said the settlement forms part of its broader efforts to resolve inherited obligations and fulfil its commitments to affected individuals and families.
The initiative also supports President Bola Ahmed Tinubu’s Renewed Hope Agenda, which the Ministry said includes efforts to address longstanding obligations and provide relief to affected families.
