The Federal Government has disbursed N4.25bn in outstanding pension and severance benefits to an additional 600 beneficiaries of the defunct Nigeria Airways Limited, bringing the total number of beneficiaries paid to 3,300.
The payment, covering the 10th and 11th batches of beneficiaries, forms part of efforts to settle longstanding financial obligations to former employees of the national carrier.
The Federal Ministry of Finance disclosed this in a statement issued Tuesday by its Head of Media, Efe Ovuakporie.
The ministry said, “The Federal Government has paid N4.25bn 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.”
According to the statement, the first nine batches covered 2,700 beneficiaries, while the latest payment extended the settlement to another 600 eligible individuals.
An analysis of the latest disbursement by PUNCH Online showed that the N4.25bn payment translates to an average gross benefit of approximately N7.09m per beneficiary, although actual payments may differ depending on individual entitlements.
The ministry did not disclose the cumulative amount paid across the previous nine batches or the total outstanding liability to former workers of the airline.
However, PUNCH Online earlier reported that the Federal Government commenced the payment of N18bn in outstanding severance benefits to 2,700 former workers of the defunct Nigeria Airways, more than two decades after the national carrier was liquidated.
Nigeria Airways, which served as the country’s national carrier for decades before its liquidation in 2003, left behind unresolved pension and severance obligations to former employees.
Successive administrations have faced demands from affected workers and their families for the settlement of benefits arising from their years of service.
The latest N4.25bn disbursement brings the total reported gross payments to approximately N22.25bn for 3,300 beneficiaries, comprising the earlier N18bn allocated to 2,700 former workers and the additional payment to 600 beneficiaries.
The ministry said the latest payment would provide financial relief to beneficiaries who had waited for their outstanding entitlements.
“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,” the statement read.
It added that the disbursement represented further progress in addressing longstanding financial obligations to eligible beneficiaries.
The ministry also disclosed that verification and validation of claims submitted by the next of kin of deceased former Nigeria Airways employees were ongoing.
According to the statement, the exercise is intended to establish eligibility and reconcile claims with approved records before payments are authorised.
“The Ministry will continue to process verified claims in line with applicable procedures, ensuring that payments are made to eligible beneficiaries,” it stated.
The ministry maintained that the settlement process was aimed at resolving verified legacy claims and ensuring that outstanding benefits reached eligible former workers and their families.