The Federal Government has commenced the payment of additional exit benefits to retirees of Treasury-funded Ministries, Departments and Agencies (MDAs), with ₦1.1 billion already paid to 175 beneficiaries.
The National Pension Commission (PenCom) disclosed this in a statement on the implementation of the Federal Government Exit Benefit Scheme, which became effective from January 1, 2026.
The beneficiaries are federal civil servants who retired between January 1 and August 31, 2026.
Under the scheme, eligible federal civil servants who have served for at least 10 years are entitled to an additional exit benefit equivalent to 100 per cent of their total annual emolument at retirement. The payment is separate from their regular pension and other benefits under the Contributory Pension Scheme.
The Federal Government made provision of about ₦32.9 billion in the 2026 Appropriation for the scheme. So far, ₦12.3 billion has been released into a dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria (CBN).
PenCom said it is working with the Office of the Head of the Civil Service of the Federation (OHCSF), the Office of the Accountant-General of the Federation (OAGF), Pension Fund Administrators (PFAs) and other relevant stakeholders to process and pay the benefits.
To access the benefit, retirees are required to submit relevant documents, including their clearance letters and recent payslips, to their PFAs. The PFAs will verify the records and forward them to PenCom for validation and approval.
Once approved, the exit benefit is credited to the retiree’s Retirement Savings Account through the PFA before the funds are transferred to the retiree’s designated salary bank account.
The Federal Government said the additional payment is intended to provide greater financial support to retiring civil servants and complement the benefits they receive from their retirement savings.
PenCom said the commencement of the maiden payment to 175 retirees marks the beginning of the implementation of the scheme, with subsequent eligible retirees from Treasury-funded MDAs expected to receive the additional benefit.
