The Lagos State Universal Basic Education Board (LASUBEB), has paid a sum of N215.132 million as death benefits to the relatives of 60 of its employees that died while still in active service.
The payment of the insurance death benefits, according to the Executive Chairman of LASUBEB, Hon. Wahab Alawiye-King, covers those who died in service between the year 2019 and 2020.
The Executive Chairman, who addressed the beneficiaries of the deceased staff during the cheque presentation ceremony at the LASUBEB office in Maryland, appealed to them to be prudent in the management of the benefits.
He urged the beneficiaries to be mindful of the recent report by the National Bureau of Statistics, that the economy of the country is sliding towards recession, saying that the information should guide them in making informed decisions about their investment.
Alawiye-King also cautioned the beneficiaries to guide against assessing the death benefits received from its nominal value but rather, they should consider the real value of the benefits being received and what it can be used for in an actual sense.
In his words, Alawiye-King said, “I plead with you to avoid the lottery effect. The pandemic has made people device different means of deceiving people, thereby robbing them of their hard-earned monies and resources.”
Responding on behalf of the beneficiaries, Mr. Makanjuola John Olanrewaju described the Lagos State Government as a trailblazer in lofty initiatives, saying that the fact that the government could pay the death benefits this time despite other competing needs of the State speaks volume to the government’s disposition to staff welfare.
On behalf of the sixty relatives who received the death benefits, Makanjuola assured the State Government that the cheques received would be used for beneficial purposes.