Nigerian president Muhammadu Buhari on Monday approved the sum of N22.68 billion for the payment of retirement benefits to former workers of liquidated Nigerian Airways Ltd.
Nigeria Airways was a Nigerian airline founded in 1958 after the dissolution of West African Airways Corporation (WAAC). It held the name WAAC Nigeria until 1971 when it was rebranded to the name it had until it ceased operations in 2003.
But, after 15 years of its dissolution, Nigeria’s finance minister, Zainab Ahmed, said the government has released entitlements of workers of the defunct firm.
“15 years after, I’m happy to announce today, that President Muhammadu Buhari has approved the immediate release of N22.68 billion, being 50% of N45.3 billion total entitlements of the Ex-workers of Nigeria Airways Limited in Liquidation,” Ahmed said in a press conference held in Abuja.
"As you might be aware, the Ex-workers of Nigeria Airways Limited (in Liquidation) were not paid their retirement benefits for the past 15 years. Many ex-workers have been through untold hardship. This unfortunate situation cannot be allowed to continue under a responsible admin."
The amount which was approved by President Muhammadu Buhari is about 50 per cent of the N45.3bn entitlements of the former workers of the company.
Ahmed also said that the sum of N20bn was approved for the education sector.