FG Begins Payment of Additional Exit Benefits to Retirees

The federal government of Nigeria has commenced the payment of Additional Exit Benefits to retirees of Treasury Funded Ministries, Departments, and Agencies (MDAs), as announced by the National Pension Commission (PenCom). The payments, totaling approximately N1.1 billion, have been made to 175 retirees who exited the Federal Public Service between January 1 and August 31, 2026.

This initiative is part of the Federal Government Exit Benefit Scheme (EBS), which was approved by the Federal Executive Council and became effective on January 1, 2026. The scheme entitles Federal Civil Servants with at least 10 years of service to an Exit Benefit equivalent to 100 percent of their total annual emolument, in addition to their pension benefits under the Contributory Pension Scheme (CPS).

The 2026 Appropriation has allocated N32.90 billion for the scheme, with N12.3 billion already released into the dedicated Exit Benefit Scheme Account at the Central Bank of Nigeria (CBN). PenCom is collaborating with various stakeholders to facilitate the processing and payment of these benefits.