Federal Government has paid about N1.1 billion in additional exit benefits to 175 civil servants who retired from Treasury-funded ministries, departments and agencies (MDAs) between January 1 and August 31, 2026.
Gatekeepers News reports that National Pension Commission (PenCom) disclosed this in a statement, saying the payments were made under the Federal Government Exit Benefit Scheme (EBS), which was approved by the Federal Executive Council (FEC) and took effect on January 1, 2026.
The scheme provides an additional financial benefit to eligible federal workers at retirement, separate from their regular pension benefits under the Contributory Pension Scheme (CPS).
Under the arrangement, federal civil servants who have served for at least 10 years are entitled to an exit benefit equivalent to 100 percent of their total annual emolument at retirement.
PenCom said the Federal Government allocated N32.9 billion in the 2026 Appropriation for the implementation of the scheme. Of that amount, N12.3 billion has so far been released into a dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria (CBN).
“In ensuring the smooth implementation of the Additional Exit Benefits Scheme, the 2026 Appropriation provided the sum of N32.90bn. So far, the Federal Government has released N12.3bn into the dedicated Exit Benefit Scheme Account maintained with the Central Bank of Nigeria,” PenCom said.
The commission explained that the additional payment would not affect retirees’ normal pension entitlements or funds accumulated in their Retirement Savings Accounts (RSAs).
“It should be emphasised that this is an additional payment, existing alongside the usual benefits drawn by the retirees from their RSA balances,” PenCom stated.
According to the commission, retirees are required to submit relevant documents, including clearance letters and recent payslips, to their Pension Fund Administrators (PFAs). The PFAs then verify the information and forward the records to PenCom for further validation and approval.
Once approved, the exit benefit is credited to the retiree’s RSA through the PFA, after which the PFA transfers the approved amount to the retiree’s designated salary bank account.
PenCom said it was working with the Office of the Head of the Civil Service of the Federation, the Office of the Accountant-General of the Federation, PFAs and other stakeholders to ensure the smooth implementation of the scheme.
The commission described the maiden disbursement as the formal commencement of the additional exit benefits scheme and said other retirees from Treasury-funded federal MDAs who meet the requirements would also qualify.
“The maiden payment of N1.1bn to 175 retirees demonstrates that the Additional Exit Benefits Scheme for FGN retirees has officially commenced,” PenCom said.
The scheme is intended to provide retiring federal civil servants with additional financial support as they leave active service, alongside their existing pension benefits.
