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FEC sanctions N9.8bn for federal workers’ group life assurance renewal

President Bola Tinubu presides over approval to ensure financial protection in unforeseen circumstances

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In a session chaired by President Bola Tinubu, Nigeria’s Federal Executive Council (FEC) granted consent on Wednesday for the allocation of N9.8bn as renewal fees for the Group Life Assurance covering Federal Government workers. The revelation came from Mohammed Idris, the Minister of Information and National Orientation, who briefed State House correspondents following the FEC meeting.

The endorsement followed the presentation of a memo by Dr. Folasade Yemi-Esan, the Head of the Civil Service of the Federation. The allocated sum, approximately N9.6bn, aims to secure coverage from 12 local insurance firms for federal workers, offering financial protection in the face of unforeseen incidents during their official duties.

Idris elucidated, “There are about 12 insurance companies involved. It’s a regular annual cover that insurance companies give workers. So, in the event of death or severe injury, they can resort to it, and so their families would not have to suffer.”

This annual initiative is a crucial measure to ensure the welfare of federal workers, providing a safety net for their families in the unfortunate event of death or severe injury. The FEC’s approval underscores the government’s commitment to the well-being of its workforce, fostering financial security and support for public servants.

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