Lasaco Assurance Plc has paid N353m as insurance claims to the beneficiaries of 128 deceased local government and State Universal Basic Education Board employees in Lagos State.
In a statement on Wednesday, Lasaco Assurance said, “Under the leadership of Governor Babajide Sanwo-Olu, the Lagos State Government demonstrated its commitment to the well-being of local government staff in collaboration with Lasaco Assurance Plc by approving the disbursement of N353m as insurance benefits to 128 beneficiaries of the deceased staff.”
During the recent presentation of cheques to the beneficiaries, held in Ikeja, Lagos, the Commissioner for Local Government, Chieftaincy Affairs, and Rural Development, Mr Bolaji Robert, highlighted the government’s efforts to prioritise the welfare of its workforce.
He mentioned that over the past year, the ministry disbursed N391m to 264 beneficiaries of local government staff and SUBEB, demonstrating the government’s consistent commitment.
The Permanent Secretary, Ministry of Local Government, Chieftaincy Affairs, Mrs Kikelomo Bolarinwa, also commended Lasaco Assurance and Haggai Insurance Brokers for their accountability and diligent efforts in ensuring the seamless distribution of the insurance benefits to the beneficiaries.
One of the beneficiaries, Mrs Matilda Mnakwe, expressed gratitude for the support and affirmed that the funds would be used wisely.
The Managing Director of Lasaco Assurance, Mr Razzaq Abiodun, commended the government for its continuous payment of insurance benefits to its employees, emphasising that the firm remained committed to providing financial security and peace of mind to its customers.
Meanwhile, the Federal Government has been urged to always ensure that policies on the administration of pension funds ultimately translate into financial security for civil servants after retirement.
This advice was shared by some civil servants from the southwest zone of the country under the aegis of the Association of Senior Civil Servants of Nigeria Nigerian Navy, at a seminar, tagged ‘Pension Fund Administration and Retirees Benefits.’