The Federal Ministry of Finance has approved the settlement of payments to more than 1,240 contractors working with various Ministries, Departments, and Agencies (MDAs), prioritizing those under ₦100 million.

In a statement issued on Monday, Mary-Ann Duke, Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, explained that the approvals came after a thorough verification and reconciliation process to confirm outstanding obligations to the contractors.

The exercise places priority on verified claims below ₦100 million, as indicated in the official announcement. This initiative aims to address legacy debts, ease cash flow challenges for businesses, and promote greater transparency in government payments.

Source: X