By Marcus Ikechukwu
Zaniab Ahmed, the Minister of Finance, Budget and National Planning, has revealed how the Federal Executive Council (FEC) meeting chaired by Vice President Yemi Osinbajo approved the sum of N9.24 billion to cover the insurance premium of public servants.
At the FEC held on Wednesday at the Presidential Villa Abuja, the Finance Minister said the approved sum covers the period between 2022 and 2023. It also caters for all government agencies, including military and intelligence agencies.
Zainab explained that the insurance coverage is 30 per cent of the annual emoluments of all staff of the government that is deceased, noting that it is paid by the insurance company of the deceased staff.
FEC also reviewed the whistle-blower’s policy, lamenting that it has lost the momentum with which it started a few years back.
The Minister said, “The Head of Service of the Federation presented a memo on group life insurance cover for 2022 to 2023. This is an insurance cover that covers all government agencies, military and intelligence agencies.
“Council approved the total sum of N9.24 billion for the insurance cover for 2022 to 2023. As you know, the insurance will take effect from the date of payment”.
She explained that in Nigeria, by its laws, the insurance cover is supposed to be 30 per cent of the annual emoluments of government staff, especially the deceased, which is paid by the insurance company of the deceased staff.
Commenting on the whistle-blower’s policy, she said a draft whistleblower bill for 2022 was presented at FEC, noting that the memo has been reviewed by Council and approved with a provision to ensure alignment with the Evidence Act.
According to her, the purpose of operationalizing and putting in place a whistleblower bill is to strengthen the fight against corruption and enable protection for whistleblowers that provide information for use by the government.
Her words, “As you know, since 2016, the Council has approved the setting up of the Presidential Initiative of Continuous Audit (PICA). PICA has been working in partnership with EFCC, ICPC, DSS, NFIU, as well as the office of the Attorney General of the Federation.
“We noticed that the whistleblower policy response has lost its momentum. We embarked on engagements in the six geo-political zones, and one of the main outcomes we found is that people are concerned about their safety due to providing information. So this bill is critical to ensure the effectiveness of the retention of the whistle policy”.
