At the conclusion of the weekly Federal Executive Council (FEC) meeting, presided over by President Muhammadu Buhari at the Council Chamber in Abuja, the sum of ₦13,321,742,038.83 has been approved by the federal government for group life insurance to cover the 318,319 officers and men of the Nigerian Police
According to Mohammed Maigari Dingyadi, Minister of Police Affairs, the objective of the document conveying the request to FEC was to keep the Police inspired and motivated.
“I had the pleasure and honor to inform you that today I have submitted one very important memo to the Federal Executive Council,” he said. “It has to do with the award of contract for the engagement of insurance underwriters and brokers, with the coverage of Group Life Assurance Scheme for the Nigerian Police Force for 2022/2023.
The primary underwriter is Leadway Assurance PLC, with three other underwriters contributing a total of ₦13,321,742,038.83. This will apply to the 318,319 policemen and men that make up our police force, he revealed.
Babatunde Fashola, the minister of works and housing, also spoke during the post-FEC briefing. He stated that the council had approved four memoranda, one of which is about the defunct Federal Mortgage Finance Limited retirees whose fate was hanging in the balance following the collapse of the institution.
The outstanding amount as their pension arrears and gratuities was ₦4,774,517,205, and essentially on compassionate grounds, Council approved that PTAD should take up this matter, subject to verification, and pay them these funds as well as the monthly pensions to be verified.
Needless to say “we made this passionate appeal to Council today that these people deserve to be treated the way that pensioners of Nigeria Airways and all of those of NITEL had been treated”, he stated.