The Lagos State Government has disbursed N978.62 million in life insurance benefits to the families of 510 deceased public servants, offering much-needed financial relief to grieving households.
The cheques were formally presented on Friday in partnership with LASACO Assurance Plc. Lagos State Commissioner for Finance, Abayomi Oluyomi, led the presentation and reaffirmed the state’s commitment to safeguarding the welfare of its workers—even after death.
“Today, we are handing out cheques to over 510 beneficiaries, totaling close to one billion naira,” Oluyomi said. He acknowledged some delays in previous payments but assured the public that a second phase of disbursement will follow within three months.
He emphasized that all Lagos public servants, whether active or late, are covered under the state’s robust insurance scheme, and he urged beneficiaries to spend prudently. “This is not free money; it is a lifeline,” he stressed, calling for a minute of silence in honour of the departed.
Oluyomi also praised Governor Babajide Sanwo-Olu for prioritizing employee welfare, revealing that over N3 billion has been paid in insurance premiums this year alone to cover government workers and assets.
Permanent Secretary, Ministry of Finance, Mahmud Alao, echoed the need for financial responsibility, warning beneficiaries against wasteful expenditure that could erode the value of the support.
Speaking at the event, Femi Saheed, Chairman of the House Committee on Finance, highlighted the role of legislative oversight in ensuring compliance with insurance obligations. He also encouraged civil servants to consider personal insurance as an added layer of protection.
Managing Director of LASACO Assurance Plc, Rasaq Abiodun, lauded the state’s consistency in premium payments and advised beneficiaries to invest wisely. Representatives of the Association of Senior Civil Servants of Nigeria (ASCSN) also urged recipients to embrace financial literacy.
One of the beneficiaries, Mrs. Constance Ajayi, shared her experience, thanking the government for its timely intervention after the loss of her husband.
With another payment round due in three months, the Lagos State Government continues to reinforce its social safety net, ensuring that those who serve the public do not leave their families without support.
