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Underwriter settles N364 million as death benefits


Lasaco Assurance Plc has paid a total of N364 million as a death benefit to relatives of the late staff of Lagos State Universal Basic Education Board (SUBEB) and local governments in the state.

At the presentation of the first batch of the payment, the Commissioner, Ministry of Local Government and Community Affairs (MLGCA), Dr. Wale Ahmed, said the Lagos State Government gave priority to payments of staff and ensured that it owed nobody.

Ahmed, who was represented by the permanent secretary of MLGCA, Kikelomo Morenikeji Sanyaolu, added that 159 relatives of the deceased were going to be presented with insurance benefits and appealed to them to utilise the money to keep alive the dreams of the deceased.


The Executive Chairman, SUBEB, Wahab Alawiye King, said the presentation had shown that Lagos State ensures that all dues and entitlements of individuals are appropriately settled.

King, who was represented by Adenike Odusanya, urged the beneficiaries to ensure that proceeds should be used to cater to the education and livelihood of the relatives of the deceased.

The Managing Director, LASACO Assurance, Rasaq Abiodun, appreciated the state government for taking the responsibility of setting up the insurance programme.

“The presentation would not have taken place if the state had not consistently paid their staff,” he stressed.


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