Latest news on nigeria airways pension

I've got some updates on the latest news regarding Nigeria Airways pension.

Background: Nigeria Airways, a national carrier, ceased operations in 2003 due to financial difficulties. The airline's pension scheme, which was managed by the Nigerian Airspace Management Agency (NAMA), has been a subject of controversy and delay in payment of benefits to retirees.

Recent Developments:

  1. Payment of Outstanding Benefits: In October 2022, the Federal Government of Nigeria announced that it had released N10 billion (approximately $25 million) to settle outstanding pension benefits of Nigeria Airways retirees. This payment was made possible through the efforts of the Ministry of Aviation, the Ministry of Finance, and the National Pension Commission (NPC).
  2. Verification Exercise: In November 2022, the NPC conducted a verification exercise to identify and verify the identities of Nigeria Airways retirees who are eligible for pension benefits. This exercise aimed to ensure that only genuine beneficiaries receive their due entitlements.
  3. Payment of Arrears: In December 2022, the NPC announced that it had paid N2.5 billion (approximately $6.25 million) to Nigeria Airways retirees as part of the outstanding pension benefits. This payment was made to retirees who had been verified and confirmed as eligible beneficiaries.
  4. Ongoing Efforts: The Federal Government and the NPC are working together to resolve the outstanding pension issues of Nigeria Airways retirees. The government has committed to ensuring that all eligible retirees receive their due benefits, and efforts are ongoing to verify and pay outstanding arrears.

Key Takeaways:

Please note that these updates are subject to change, and I recommend verifying the information with official sources, such as the NPC or the Federal Government, for the most up-to-date information.