FG pays N4.25bn to additional 600 Nigeria Airways beneficiaries

The Federal Government has paid ₦4.25 billion in outstanding pension and severance benefits to an additional 600 beneficiaries of Nigeria Airways Limited, bringing the total number of beneficiaries paid across 11 batches to 3,300.

The Finance Ministry said the latest payment, covering Batches 010 and 011, amounts to ₦4,251,043,000.19 in gross benefits. It extends the settlement of outstanding entitlements associated with the defunct national carrier to more eligible beneficiaries.

According to a statement signed by Efe Ovuakporie, the first nine batches covered 2,700 beneficiaries, while the latest disbursement extends payment to another 600, bringing the cumulative number of beneficiaries paid to 3,300.

“The payment provides financial relief to beneficiaries who have waited for the settlement of pension and severance entitlements linked to service with the former national airline. It also represents progress in addressing longstanding obligations to eligible beneficiaries.

“Meanwhile, the Federal Ministry of Finance’s verification and validation exercise for the next of kin of former Nigeria Airways workers is ongoing. The process is intended to establish eligibility and confirm claims against approved records to facilitate the settlement of outstanding benefits.

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“The Ministry will continue to process verified claims in line with applicable procedures, ensuring that payments are made to eligible beneficiaries”.

In the statement, the Finance Ministry noted that the settlement of these obligations reflects the Federal Government’s efforts to resolve verified legacy claims and ensure that eligible beneficiaries receive their entitlements.

“This payment aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda by advancing the resolution of longstanding obligations and providing financial relief to affected families” the statement stated.