FEC approves N9bn life assurance for workers, says students loan for January

Taiwo Ajayi
3 Min Read

President Bola Tinubu has approved the payment of renewal fees for the Group Life Assurance for federal government workers.

Minister of Information and National Orientation, Mohammed Idris, disclosed this on Wednesday at the end of the first 2024 meeting of the Federal Executive Council (FEC) held in Abuja.

He said that this was a sequel to a memo brought by the Head of the Civil Service of the Federation, Folasade Yemi-Esan, to the council.

He said the president approved about N9.6 billion for 12 local insurance firms to cover the federal workers in case of unforeseen eventualities in the course of their duties.

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There are about 12 insurance companies involved. It is a normal annual cover that insurance companies give workers. So, in the event of death or severe injury, they can resort to and so that their families would not have to suffer,’’ he said.

Mr Idris said the approval was part of the administration’s determination to accord all its workers the needed reward that would improve efficiency, productivity and service delivery to Nigerians.

Students loan

Minister of State for Education, Yusuf Sununu, said the January date for the take-off of the student loan was still in place, adding that a website had already been working for interested students with requisite criteria.

He pointed out that the government had made funding provision for it in the 2024 budget.

READ ALSO: Tinubu’s Housing Revolution will Clear Path for Affordable Homes in Nigeria

Mr Sununu also disclosed that the council approved the setting up of foreign institution campuses in the country to increase enrollment of Nigerians and encourage research among higher institutes worldwide.

He said that a guideline has been provided to ensure the quality of training on the local campuses is standardised with the parent institution abroad.

He added that the policy would also save the nation from scarce foreign exchange taken abroad instead of being used for national development.

(NAN )

Source: Premiumtimes

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