15 years after shutting down, Nigeria Airways retirees will receive about 50% of their severance packages.
This is coming a week after the Nigerian government suspended the Nigeria Air project.
President Muhammadu Buhari-led federal government on Monday, September 24, 2018, approved the release of N22.68 billion as retirement benefits of ex-workers of the Nigeria Airways Limited (in Liquidation).
Payment of former Nigeria Airways severance packages
The payment came weeks after the former Nigeria Airways workers threatened to frustrate the kick off of the national carrier, Nigeria Air.
The government also paid the sum of N20 billion for the revitalization fund of public universities as requested by universities' lecturers, the Academic Staff Union of Universities (ASUU).
Zainab Ahmed, Nigeria's Minister of Finance, stated this during a press briefing in Abuja, the nation's capital on Monday.
Nigerian Airways and other national airlines that have gone into extinction (Guardian Nigeria)
The amount was about 50% of the total retirement package of the affected former aviation workers.
'This amount was verified by Presidential Initiative on Continuous Audit (PICA) and other relevant stakeholders in line with the condition of service of Nigeria Airways Limited in liquidation and other extant rules and regulations.' Buhari government suspends Nigeria Air project
Last week, the Nigerian government announced its decision to suspend the proposed national carrier . Aviation players question level of preparedness
Although the government claimed the reasons was basically 'strategic' but industry players questioned the level of preparedness on the part of the government and believed the project has grey areas that need simplification.
Nigeria Air looks airborne again (Presidency)
The National Union of Air Transport Employees (NUATE) were among those that kicked against the new national carrier.
They had envisaged that new airline will not kick off until the severance package of the staff of the defunct national carrier, Nigeria Airways, have been paid.
The group also expressed concerns about the government's level of involvement in the airline despite its public claims that it will not be involved in the operations of the airline.
Also from Business Insider Sub-Sahara Africa:
- We visited Skye Bank (Polaris Bank) branches on the island and here's what we found out
- These are the 5 most indebted states in Nigeria right now
- Nigeria's central bank says it is engaging with MTN and 4 banks over $8.1 billion claims
- Nigeria suspends plans for a national carrier and we all saw it coming
- CBN says banks will pay N10,000 fine for any delay in instant transfer beyond 4 minutes
- Nigeria's finance minister, Zainab Ahmed steps in
- 5 economic problems in the HSBC report that the Nigerian government is yet to address
- All you need to know as Nigeria's central bank and MTN forex saga
- Passion Incubator cofounder talks to Business Insider about the Africa Business Festival
- I visited the 6 Google Stations in Lagos and here's what I found out about the free Wi-Fi