F.G Approves N9.24b Insurance Package For Civil Servants

The Federal Executive Council has approved N9.24 billion for 2022/2023 Group Life Insurance Cover for civil servants for 2022 and 2023.

This includes government officials in all ministries departments and agencies, paramilitary and intelligence agencies.

Dr Zainab Ahmed,  Minister of Finance, Budget and National Planning, revealed this to State House Correspondents after this week’s Council meeting on Wednesday.

The meeting was chaired by Vice President Yemi Osinbajo, at the Aso Rock Villa, Abuja.

Mrs Ahmed said the Head of the Civil Service of the Federation, Dr Folashade Yemi-Esan, presented the memo to the council and the approved insurance package will cover all government officials.

The minister said “The Head of Service of the Federation presented a memo to the Council on Group Life Insurance Cover for the period 2022 to 2023. This is an insurance cover that is covering all government officials in all government agencies, paramilitary and intelligence agencies

“Council approved the total sum of N9.24bn naira for the insurance cover for 2022 to 2023.

“As you know, the insurance will take effect from the date of payment and in Nigeria, by our laws, the insurance cover is 30 percent of the annual emolument of any staff of government that is deceased and this cover is paid by the insurance company to the beneficiaries of the deceased staff.”