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PenCom Report Shows 7 States with Insurance Cover for Workers

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Only seven states had group life insurance cover for their workers as of the end of March 2022, according to the National Pension Commission.

This means that 29 states did not have insurance covers for their workers within this period.

Figures obtained from PenCom on ‘Summary of the implementation status of states with valid group life and sinking funds’ as of March, 31, 2022, showed that only Lagos, Federal Capital Territory, Osun, Ondo, Edo, Ekiti and Kaduna states had covers for their workers.

The pension industry regulator explained that “Kaduna replaced the group life insurance with a sinking fund, which is domiciled with the CBN and the state has commenced setting aside funds in the account for the settlement of death benefits.”

PenCom and the National Insurance Commission jointly released the ‘Revised guidelines on group life insurance policy for employees’.

Section 4(5) of the Pension Reform Act 2014 provides that “every employer must maintain a group life insurance policy in favour of each employee for a minimum of three times the annual total emolument of the employee and premium must be paid not later than the date of commencement of the cover.”

Section 120 of the PRA 2014 defines the annual total emolument to mean the gross emoluments of an employee or deceased person.

Where an employee dies, his entitlements would be paid by an underwriter to the named beneficiary in line with Section 57 of the Insurance Act, according to the section.

Where an employee dies,  the employer must immediately notify the insurance company and commence processing of death benefits claim on behalf of the deceased employee, as prescribed in the operational terms of the group life insurance policy and in all cases, not later than 365 days from the date of the incident giving rise to the claim, the section says.

Where the employer fails to notify the insurance company of the employee’s death, it adds, the employer will be liable to pay the death claim from its resources.

“Any employer who fails to maintain a group life insurance policy for the benefits of its employees is in contravention of the PRA 2014,” it states.

The Commissioner for Insurance, National Insurance Commission, Mr Sunday Thomas, said the commission was partnering with states to ensure the enforcement of compulsory insurance policies in the country.

He noted that group life insurance was one of the compulsory insurance policies in the country’s statutory laws.

The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, assured insurers that the Federal Government would ensure compliance with compulsory policies in the country.

She said, “We have also keyed into the Market Development and Restructuring Initiatives of NAICOM, which was developed to promote compulsory insurance products and increase penetration by ensuring compliance with group life insurance of civil and public servants.

“In addition, the government is also deploying resources and engaging various stakeholders, including state governments, to ensure that it domesticates insurance laws and improves the business of insurance in the states.”

 


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Head of Civil Service Celebrates 100 Days in Office with the Launch of Galaxy Backbone’s “Govmail”

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In a landmark moment for Nigeria’s public service, the Head of Civil Service of the Federation, Mrs. Didi Esther Walson-Jack, OON, MINI, today marked her 100 days in office and officially launched three digital services platforms for the Civil Service.

These include, Govmail, ServiceWise GPT and the Federal Civil Service Online Portal. These platforms, underscore President Bola Ahmed Tinubu’s administration’s commitment to enhancing digital governance and driving innovation across the nation’s Federal Civil Service.

Govmail, an email platform developed and powered by Galaxy Backbone (GBB) is an innovative solution set to enhance communication, boost efficiency, and accelerate Nigeria’s digital transformation journey within the public sector.

Speaking at a meeting where the Govmail Interface was first officially presented and demonstrated to her, the Head of Civil Service expressed her excitement about the platform, stating, “GBB’s Govmail is unbelievably WOW!

This is a game-changer for our nation’s civil service, streamlining communication and creating a secure path to other government digital services. With Govmail, we are truly embracing the future of digital governance.”

Govmail is a secure, Nigeria-centric email platform designed by a team from Galaxy Backbone, exclusively for public service professionals. It ensures that all official communication are seamlessly managed while safeguarding Nigeria’s data sovereignty. The initiative emerged as a key outcome of the Digitalisation War Room, established by Mrs. Walson- Jack, to drive the implementation of cutting-edge digital solutions in government.

Commenting on this milestone, Professor Ibrahim A. Adeyanju, Managing Director/CEO of Galaxy Backbone, shared, “We are immensely proud to have developed this revolutionary platform, ensuring that every Nigerian civil servant has access to a robust and secure communication channel.

Govmail is not just about email—it’s about enabling productivity, efficiency, and sovereignty in governance. Galaxy Backbone remains committed to driving the digital transformation of Nigeria’s public sector.”

The Permanent Secretary, Federal Ministry of Communications, Innovation & Digital Economy, Engr. Faruk Yusuf Yabo emphasized the strategic importance of the Govmail for the nation’s Civil Service stating that “Govmail significantly reduces the government’s reliance on foreign email platforms, cutting costs and addressing licensing challenges. This is a commendable achievement by the Head of Service and the leadership of Galaxy Backbone.”

Through GBB’s dedicated efforts, Govmail will rapidly roll out email accounts to over 70,000 Federal civil servants across Nigeria, ensuring every government professional is equipped with a secure communication platform in record time. This initiative aligns with Nigeria’s goal of leveraging technology to build a digitally driven and globally competitive public service.


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Senate Approves New $2.2Bn External Borrowing for Nigeria

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The Senate has approved the new external borrowing plan request of $2.2 billion presented for consideration by President Bola Tinubu.

Senate Approves New $2.2Bn External Borrowing for Nigeria

The approval followed the adoption of the report of the Senate Committee on Local and Foreign Debts at the plenary session on Thursday.

The report was presented by the Sen. Aliyu Wammako, chairman of the Committee.

President Bola Tinubu had on Tuesday, Nov 19, in separate letters to both chambers of the National Assembly, requested approval of a $2.2 billion external borrowing plan to part fund the N9.7 trillion deficit in the 2024 budget .

Senate upon receipt of the request, mandated its committee on local and foreign debts to expeditiously ensure further legislative inputs on the request and report back within 24 hours.

Presenting the committee‘s report, Wammako said the presidential request was very necessary for approval.

He said the loan request would be utilised for execution of ongoing projects and programmes in the 2024 appropriation act , saying that the projects were critical for national growth and development.

“It will contribute to the implementation of the debt management strategy, which seeks to reduce the cost of borrowing.

” It will lengthen maturity of the public debt stock, free – up space in the domestic market for other borrowers, and help increase Nigeria’s external reserves .” Wammako said Nigeria could raise all or part of the 2.2billion dollars through the issuance of Eurobonds in the International Capital Market ( ICM) .

Wammako thereafter is recommended as follows:

“That the Senate do approve the implementation of the new external borrowing of 2.2 billion dollars at the budget exchange rate of one dollars to N800 in the 2024 appropriation act and that the amount should be raised from one or more sources.

“Namely, issuance of eurobonds in the ICM, issuance of debut sovereign Sukuk in the ICM, and bridge, syndicated loans, subject to market conditions.”

The report was thereafter unanimously approved via an affirmative voice vote.

In his remarks after the approval, Senator Jibrin Barau, deputy president of the Senate, who presided plenary, commended the Wammako led committee for a job well done.


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Airtel, Mobihealth Partner to Improve Healthcare Access for Nigerians

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Airtel Nigeria, a telecommunication and mobile money service provider, has announced a groundbreaking partnership with Mobihealth International, a pioneering telehealth service provider.

This strategic collaboration is set to significantly improve healthcare access for millions of people across Nigeria, particularly in underserved communities.

Under this partnership, Nigerians will enjoy affordable and round the clock access to Mobihealth’s innovative telemedicine services, allowing them to connect with licensed healthcare professionals from the comfort of their homes via mobile phones.

Mobihealth’s platform offers a range of services including 24/7 teleconsultations, prescription services, delivery of genuine medications, and access to international medical specialists.

A Game Changer for Healthcare in Africa

Airtel’s vast network infrastructure will empower Mobihealth to extend its reach to rural and remote areas, ensuring that even the most vulnerable populations can access quality healthcare. This partnership also aims to support the government’s efforts at resolving the nation’s healthcare challenges, including limited access to doctors, high healthcare costs, and a shortage of medical facilities.

Speaking on the partnership, Femi Oshinlaja, Chief Commercial Officer of Airtel Nigeria, stated, “We believe that telemedicine will play a crucial role in Nigeria’s healthcare future. Our partnership with Mobihealth showcases our dedication to providing innovative solutions that significantly improve the lives of Nigerians.”

Dr. Funmi Adewara, Founder and CEO of Mobihealth, added: “This partnership with Airtel is a major milestone in our mission to democratize healthcare in Africa. Together, we will offer a lifeline to millions who face barriers to accessing timely, affordable, and quality medical care. Our telehealth platform will provide convenient access to qualified doctors, diagnostics, and treatments, ensuring that no one is left behind.”

This collaboration is expected to transform the healthcare landscape across Nigeria, making healthcare services more accessible, affordable, and effective.

 


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