FG allocates N9.24bn life insurance for govt workers
The sum of N9.24 billion has been approved by the federal government for civil servants as the 2022/2023 Group Life insurance cover.
This was confirmed by the Minister of Finance, Budget and National Planning, Zainab Ahmed, in Abuja on Wednesday.
The Minister made this revelation at the Presidential Villa, while granting an interview with journalists after the meeting of the Federal Executive Council (FEC).
While reacting to the confirmation of the memorandum, already submitted to the Head of the civil service, Dr Folashade Yemi-Esan, the finance minister said the insurance is to be beneficial to all government workers.
Ahmed said, “ Dr Folashade Esan presented a memo to the Council on Group Life Insurance Cover for the period 2022 – 2023. This is an insurance cover that is covering all government officials in all government agencies, intelligence agencies and paramilitary. The council approved the sum of N9.24 billion for the insurance.”
It was gathered that the insurance is made of 30% of a deceased civil servant’s emolument and would be remitted to the beneficiaries of the deceased government worker.
