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Fed Govt Pays N9.2bn Premium To 13 Insurance Firms

13 Insurance Firms

Fed Govt Pays N9.2bn Premium To 13 Insurance Firms

 

The Minister of Labour and Employment, Dr. Chris Ngige, says the Federal Government has paid N9.2bn as group life insurance premium spanning between April 17, 2020, to April 16, 2021, for federal workers.

He said the money was paid to 13 insurance firms, six of which are dedicated to the health sector.

But the minister noted that the policy did not cover workers of revenue-generating agencies such as the Nigeria Customs Service and Federal Inland Revenue Service.

A statement on Tuesday by the Deputy Director, Press and Public Relations in the ministry, Charles Akpan, also clarified some areas of the agreement reached between the government and the National Association of Resident Doctors during their meeting on Monday.

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It explained that the N15.88bn spent on COVID-19 hazard/inducement allowances to doctors and all health workers in the Federal Teaching Hospitals and Medical Centres was specifically for April/ May 2020.

It pointed out that the amount did not include the regular monthly salaries paid to the health workers, noting that June allowances were outstanding as the Federal Government was struggling with low revenue receipts.

The ministry stated, “The sum of N9,248,970,292.97 has been spent on premium for group life insurance for federal civil servants except those in the revenue-generating agencies like Customs, FIRS among others.”

It added that the 13 insurance companies involved in the transactions had appointed underwriters and 173 insurance brokers.

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