President Goodluck Jonathan, Vice-president Namadi Sambo, non-returning federal lawmakers, ministers and presidential aides will collect N3.24bn as severance allowances, investigation by The PUNCH has shown.
The severance allowances are contained in the Remuneration Package put together by the Revenue Mobilisation, Allocation and Fiscal Commission.
According to the package, Jonathan, who will hand over to the President-elect, Muhammadu Buhari, on May 29, is entitled to 300 per cent of his annual basic salary.
The President’s annual basic salary is put at N3, 514,705 and therefore his severance allowance will be N10, 544,115 after May 29. The severance allowance is without prejudice to his other constitutional entitlements as a former head of government.
Similarly, Vice-President Sambo, who leaves office the same day as Jonathan, is also entitled to 300 per cent of his annual basic salary put at N3, 031,572.50. This means that his severance allowance after May 29 is N9, 094,717.50. For having held the office of vice- president, Sambo also has some constitutional entitlements and perks.
