President Muhammadu Buhari has approved the immediate release of N20 billion to the Academic Staff Union of Universities (ASUU).
The money is meant for the revitalisation of public universities.
The Acting Minister of Finance, Zainab Ahmed, made this known on Monday at a press conference.
She also disclosed that the president approved the immediate release of N22.68 billion.
The amount, according to him, would be used as retirement benefits of ex-workers of the Nigeria Airways Limited (in Liquidation).
“These funds will be released to beneficiary universities in line with the established criteria used by the National Universities Commission (NUC)…
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“Progress of the implementation will be monitored with a view to resolving emerging issues and keeping the government’s promises to relevant stakeholders,” she said.
On the issue of the settlement of outstanding retirement benefits due of former workers of the Nigeria Airways, the initial submission for their retirement benefits was N78 billion.
The amount, it was said, 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.
“At the end of verification, N45 billion was agreed as total retirement benefits of affected staff,” the minister said.
