Leadway Ass. leads three others on N13.3bn Nigeria Police’s Group Life of 318,319 officers

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L-  Minister of Police of Affairs, Mohammed Maigari Dingyadiand the Group Managing Director of Leadway Assurance Plc, Mr Tunde Hadsan-Odukale
By Favour Nnabugwu
Leadway Assurance plc is leading three others insurance companies to underwrite over N13. 3billion Nigeria Police Force (NPF) Group Life of 318,319 officers
The Federal Executive Council has approved the sum of N13,321,742,038.83 for Group Life Assurance for the 318,319 officers and men of the Nigeria Police.
This was a confirmation of patomabusinessonline.com’s exclusive report on the repackaging of indemnity for Ministries, Departments and Agencies, MDAs of 4 – 5 insurance companies on a particular risks.
The figure was made known to State House correspondents at the end of the weekly Council meeting, presided over over by President Muhammadu Buhari at the Council Chamber, Presidential Villa Abuja.
The Minister of Police of Affairs, Mohammed Maigari Dingyadi, told journalists that the import of the memorandum that conveyed the request to FEC was to keep the Police motivated and encouraged.
“Leadway Assurance PLC as the lead underwriter and three others as co-underwriters, in the total sum of N13,321,742,038.83. This is going to cover our police population of 318,319 officers and men”, he disclosed.
He said, “I had the pleasure and honour to inform you that today I have submitted one very important memo to the Federal Executive Council, which 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 the 2022/2023, in favour of Messrs.
The Minister also stated that his memorandum to Council on the almost forgotten former employees of the federal government received the blessing of the meeting, which approved a N4,774,517,205 pensions and gratuity arrears, to be administered by the Pension Transitional Arrangement Directorate (PTAD).
“Needless to reiterate, we made this impassioned 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 and the amount outstanding as their pensions arrears and gratitude was N4,774,517,205 and essentially on compassionate grounds, Council approved that PTAD should take up this matter, subject to verification, and pay them these monies and also the monthly pensions to be verified, estimated now at N41,096,700”, he said.

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