Nigeria’s Federal Ministry of Finance says a new severance release covers 600 former Nigeria Airways Limited employees, bringing the announced beneficiary count to 3,300. Its Oct. 19 statement gives no updated total for outstanding claims.
In a statement dated Monday, Oct. 19, the ministry put the net amount at ₦4,038,490,850.18, after ₦212,552,150.01 in deductions from gross benefits of ₦4,251,043,000.19. The money was released for payment to eligible workers in batches 10 and 11. The ministry did not say whether it had reached their accounts.
In September, the ministry announced ₦18 billion in payments for 2,700 former employees across the first nine batches. Together, the announcements cover 3,300 beneficiaries by their stated counts. The ministry has not given a consolidated figure for money paid across the rounds.
“The Federal Government recognises the prolonged wait experienced by former employees and their families,” the ministry said. It said payments are processed in batches after eligibility and records are checked.
The Oct. 19 announcement was covered in an earlier EconoTimes report on Nigeria Airways severance benefits.
UK Companies House records show a court order to wind up Nigeria Airways Limited on Nov. 19, 2003, followed by the appointment of a liquidator on Aug. 10, 2004.
A State House fact sheet published in 2020 says the government approved ₦24 billion for release in September 2018 to cover half the benefits of workers disengaged during liquidation. The document does not explain how that earlier measure connects to the current batches.
The ministry’s Oct. 19 statement gives no updated liability figure, count of remaining verified claims or date for completing payments. BusinessDay’s editorial made a broader governance argument: governments should account for worker claims when they decide to restructure or close public enterprises. The ministry’s Oct. 19 statement did not identify what caused the long delay or give a date for another payment.
