FG To Pay N9.2bn To Insurance Companies Covering Public Employees
The Federal Executive Council (FEC) has approved N9.2 billion due to insurance companies managing the group life insurance of public employees.
Disclosing this was the Minister of Information and Culture, Lai Mohammed, while briefing journalists at the State House on Wednesday.
He said that the premium paid would cover a period of 12 months and would cover public servants, para-military, and the intelligence committee.
The total amount approved by the FEC was N9,248,995,907 and runs from 2021-2022.
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Mohammed said, “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.”