President Tinubu Approves N9.6bn Renewal Fees for Federal Workers’ Group Life Assurance

President Bola Tinubu has given the green light for the disbursement of N9.6 billion as renewal fees for the Group Life Assurance covering federal government workers. The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, at the conclusion of the first 2024 Federal Executive Council meeting in Abuja.

The decision follows a memorandum presented by the Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan, and entails the allocation of about N9.6 billion to 12 local insurance firms. These firms will provide coverage for federal workers in case of unforeseen events during their official duties.

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Minister Idris highlighted the involvement of 12 insurance companies in this annual coverage, emphasizing its importance in providing financial security for workers and their families in the event of death or severe injury.

The approval aligns with the administration’s commitment to recognizing and rewarding its workforce, aiming to enhance efficiency, productivity, and service delivery to the Nigerian people.

Additionally, Minister of State for Education, Dr Yusuf Sununu, affirmed that the previously announced January commencement date for the students’ loan program remains intact. A dedicated website is already operational for interested students who meet the specified criteria