October 22, 2021

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FG releases N9.2bn assurance premium for staff

The federal government has released N9.2 billion to various insurance companies as premium for the group life insurance cover for federal civil servants.

President of the Council of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs Onigbogi disclosed this when a delegation of the NCRIB visited the Vice President, Prof. Yemi Osinbajo.

The Federal Executive Council in January 2021 approved N9.2bn for Group Life Insurance for its workers for 2021/2022 following a memo submitted by the Head of Service of the Federation.

A statement from the Council said she applauded the Federal Government for the release of the sum of N9.2bn for group life for Federal Government employees.

Prof. Osinbajo advised Nigerians to engage services of Registered Insurance Brokers to effectively protect their assets, irrespective of their economic status and position.