Insurance

FG approves N9.2bn for workers 2021,2022 group life insurance

Mohammed

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Chuks Udo Okonta

The Federal Executive Council (FEC) has approved N9.2 billion to be paid to insurance companies underwriting its 2021 to 2022 group life insurance for public employees.

The Minister of Information and Culture, Lai Mohammed, disclosed this, while briefing journalists at the State House yesterday.

He said the premium paid would cover a period of 12 months and would cover public servants, para-military, and the intelligence committee.

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The total amount approved by the FEC was N9,248,995,907 and runs from 2021-2022.

“On behalf of the Head of Civil Service of the Federation, I will like to report that council today approved the award of contract for the appointment of insurance companies for group life assurance for federal government employees, public servants, para-military and the intelligence community for the year 2021-2022 in the sum of N9,248,995,907.

“This premium is for a period of 12 months. This is part of the government’s welfare programme for our public employees so that in case of death, they are assured that there would be compensation,” he said.

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