FG approves N9.24bn life insurance for public servants

The Federal Government has approved N9.24 billion for the 2022/2023 Group Life insurance cover for civil servants.

Zainab Ahmed, the Minister of Finance, Budget and National Planning, made the revelation in Abuja on Wednesday, at the Presidential Villa, during an interview with newsmen after the Federal Executive Council (FEC) meeting.

Speaking on the approval of the memorandum, which was presented to the Council by Dr Folashade Yemi-Esan, the Head of the Civil Service of the Federation, the minister noted that the insurance is to cover all federal government officials.

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.”

The insurance which is said to cover 30% of annual emolument of any civil servant that is deceased would be paid to the beneficiaries of deceased staff.

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