The Federal Executive Council, chaired by President Bola Tinubu, has given approval for the sum of N9.8 billion as renewal fees for the Group Life Assurance for Federal Government workers.
The Minister of Information and National Orientation, Mohammed Idris, made this announcement after the FEC meeting on Wednesday.
The approval came following a presentation of a memo by the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan.
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The President sanctioned approximately N9.6 billion for 12 local insurance firms to provide coverage for federal workers in case of unforeseen events during the course of their duties.
The insurance coverage involves about 12 insurance companies and constitutes a regular annual provision that these companies offer to workers.
In the event of death or severe injury, the coverage ensures that affected workers and their families do not face undue financial hardship.
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