FG pays N1.1bn additional benefits to 175 retirees
The Federal Government has commenced the payment of N1.1bn in additional exit benefits to 175 retirees under a new scheme, PenCom has disclosed. Read More: https://punchng.com/fg-pays-n1-1bn-additional-benefits-to-175-retirees/
The Federal Government has initiated the disbursement of an additional N1.1 billion in exit benefits to 175 retiring civil servants who left the Federal Public Service between January and August 2026. The Federal Government Exit Benefit Scheme, approved by the Federal Executive Council, provides an extra financial benefit to eligible employees, separate from their pension benefits.
Under the scheme, federal civil servants who have served for at least 10 years are entitled to an exit benefit equal to 100% of their total annual emolument. The National Pension Commission (PenCom) disclosed this development in a statement, noting that N32.90 billion was allocated in the 2026 budget for the scheme, with N12.3 billion released into a dedicated Exit Benefit Scheme Account with the Central Bank of Nigeria.
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