President Bola Tinubu has approved the release of N4 billion as the second tranche of severance payments for 600 former employees of Nigeria Airways.
The development was announced in a statement issued on Monday by Maryann Duke, Senior Special Assistant on Communications and Press Secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.
According to the statement, the latest disbursement follows the release of N18 billion in September 2026 to settle the entitlements of 2,700 former workers covered under the first nine batches.
The statement added that the payment forms part of the Federal Government’s ongoing efforts to clear outstanding severance liabilities owed to former staff of the defunct national carrier.
It stated that the total gross severance benefits for the 600 beneficiaries amount to N4,251,043,000.19, with deductions of N212,552,150.01, adding that the net amount released for payment stands at N4,038,490,850.18.
The statement further noted that the latest disbursement was part of the Federal Government’s ongoing efforts to settle outstanding severance obligations owed to former employees of the defunct national carrier.
It explained that payments were being processed in batches based on the verification of eligible beneficiaries and their records to ensure that approved entitlements reached the rightful recipients.
“The Federal Government recognises the prolonged wait experienced by former employees and their families and remains committed to resolving legitimate outstanding claims through an orderly and transparent process, while safeguarding public funds through appropriate verification,” the statement said.
