What is the salary structure of the Nigerian Navy?

According to a March 2013 article quoted in AllAfrica from the Nigerian newspaper, Leadership, an Admiral in the Nigerian Navy earns a yearly salary of 16,303,140 Nigerian naira (₦). This is equivalent to $99,411.10 in US currency, as of September 2014.

For other top commissioned officers, the annual salaries are ₦13,363,229 ($81,483.11) for a Vice-Admiral; ₦12,038,945 ($73,408.20) for a Read Admiral; ₦7,385,856 ($45,090.70) for a Commodore; ?3,715,859 ($22,690.88) for a Captain and ₦3,380,086 ($20,671.49) for a Commander.

Officers ranked at Rear Admiral or above earn lifelong full-salary pensions, while those ranked at Commodore or below receive a pension of five years' worth of their salary.