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FG set to partner NAICOM on Compulsory Insurance Scheme to protect government assets

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The Federal Government is set to partner the National Insurance Commission (NAICOM) in executing a compulsory insurance scheme to insure all government assets.

This was made known when the Governing Board of NAICOM, led by its Chairman Dr. Abubarkar Sani, paid a courtesy visit on the Secretary to the Government of the Federation (SGF) Mr. Boss Mustapha, in Abuja.

Dr. Sani appealed to the SGF to support the Commission in executing a compulsory insurance scheme for all MDAs, while highlighting the benefits.

He said the Commission was interested in seeing all government assets insured. “we want the SGF to issue a circular or letter to all MDAs on the necessity of compulsory insurance”.

Responding, the SGF who was represented by the Permanent Secretary, General Services Office (GSO) Dr. Maurice Mbaeri, requested the NAICOM team to come up with a draft document of what they want the circular to contain to guide the Office of the SGF in properly articulating the circular.

“Send a draft copy of the circular to the SGF, after the review, of the circular will be released to the MDAs” the SGF said.

The SGF also told the NAICOM team to ensure that the draft circular reflects what they want, assuring that it would be issued to the appropriate MDAs if it meets the SGF’s expectations.

The Permanent Secretary General Services Office (GSO) Dr. Maurice Mbaeri however decried the decline in budgetary allocation meant for insuring public assets.

On learning that the premium to be paid for insuring public assets are centralized in the Office of the Head of the Civil Service of the Federation (HoS), Dr. Mbaeri explained that there was no way the HoS alone could cover insurance premium for all the MDAs.

To this end, Mbaeri urged NAICOM to write for the decentralization of insurance premium amongst the MDAs.

The proposed compulsory insurance scheme for MDAs is aimed at insuring all government assets to guard against unforseen circumstances.

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