Money

Breaking: Buhari Approves N42.68bn For ASUU, Ex-Nigeria Airways Workers

President Muhammadu Buhari, on Monday approved the immediate release of N42.68bn for ex-workers of Nigeria Airways (in liquidation), as well as the Academic Staff Union Of Universities.
According to a breakdown in tweets on the official handle of the Federal Ministry of Finance said while N22.68bn is for payment of retirement benefits of the ex-Nigeria Airways workers; N20bn is to meet the request of ASUU for revitalization fund of public universities in the country.
Continuing, the Ministry noted that a total of N78bn was the initial computation of the amount needed to settle outstanding retirement benefits due to ex-workers of the Nigeria Airways.
“This amount was verified by PICA (Presidential Initiative on Continuous Audit) and other relevant stakeholders in line with the condition of service of Nigeria Airways Limited in liquidation and other extant rules and regulations.
“At the end of verification, N45bn was agreed as total retirement benefits of affected staff,” Ministry tweeted.
The amount released represents 50.4% of the total verified by PICA.

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