The Federal Government has paid N1.1 billion to 175 retirees under its new Exit Benefit Scheme for workers in treasury-funded Ministries, Departments and Agencies.
The National Pension Commission (PenCom) disclosed this in a statement on Friday, saying the beneficiaries retired from the Federal Public Service between January 1 and August 31, 2026.
The payment is part of the Federal Government Exit Benefit Scheme approved by the Federal Executive Council and made effective from January 1, 2026.
The scheme provides an additional financial benefit to eligible federal workers upon retirement, separate from their pension benefits under the Contributory Pension Scheme.
PenCom said N32.90 billion was provided for the scheme in the 2026 Appropriation.
It added that the Federal Government had so far released N12.3 billion into the dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria.
The commission described the N1.1 billion payment to the 175 retirees as the maiden disbursement, marking the formal commencement of the additional exit benefits for federal government retirees.
FG pays N1.1bn to 175 retirees under new exit benefit scheme
