Business

FG Introduces New Compensation Framework for Injured, Deceased Civil Servants

Published

2 months ago

April 27, 2026

Preport

The Federal Government has introduced a new compensation structure aimed at improving welfare and strengthening workplace protection across the Federal Civil Service. The policy covers civil servants who suffer work-related injuries, occupational diseases, disabilities, or death in the line of duty.

This was disclosed on Thursday in a statement signed by Eno Olotu, Director of Press at the Office of the Head of the Civil Service of the Federation (OHCSF).

The Head of the Civil Service of the Federation, Didi Walson-Jack, announced the development at the inauguration of the Employees’ Compensation Scheme (ECS) Help Desk in Abuja, describing it as a key welfare intervention for public servants.

She said the scheme has now been fully operationalised to ensure prompt compensation and support for workers affected by occupational hazards.

“The Employees’ Compensation Scheme is a crucial intervention to provide prompt compensation and support for Civil Servants affected by work-related diseases, injuries, disabilities, or death,” Walson-Jack stated.

She explained that the initiative is designed to strengthen employee protection and complement existing welfare programmes such as the Group Life Assurance Scheme, which also supports workers and their families in cases of death or disability.

According to her, the move reflects President Bola Ahmed Tinubu’s administration’s commitment to safeguarding the dignity, safety, and welfare of public servants.

“The initiative reflects the administration of President Bola Ahmed Tinubu’s commitment to safeguarding the well-being and dignity of Public Servants,” she added.

As part of the implementation framework, the Office of the Head of the Civil Service of the Federation and the Nigeria Social Insurance Trust Fund (NSITF) have signed a Memorandum of Understanding to ensure smooth execution of the scheme.

The Managing Director of NSITF, Oluwaseyi Faleye, described the initiative as an important step toward building a structured and transparent compensation system for federal workers.

Faleye said, “The ECS is a major step toward institutionalising structured care and protection for Civil Servants, supported by a transparent, payroll-driven system.”

He further noted that the newly launched ECS Help Desk would serve as a dedicated platform for information sharing, claims processing support, and feedback management.

“To improve service delivery, the ECS Help Desk will offer information, claims support, and a feedback platform,” he added.

The Federal Government said the initiative represents a significant milestone in strengthening workforce protection and promoting a more responsive, efficient, and welfare-driven public service.

Related Topics:Civil Servants Compensation Framework Deceased FG Injured

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Business

Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million

Published

6 hours ago

June 18, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—Mutual Benefits Assurance Plc has disclosed an insider transaction involving one of its directors, Dr. Akinade Ogunbiyi, who sold more than 1.5 million shares in the insurance company in a deal valued at over ₦6.3 million.

The disclosure, signed by Jide Ibitayo, Company Secretary, filed with the Nigerian Exchange (NGX) and the investing public, showed that Ogunbiyi, a Non-Executive Director of the company, disposed of 1,507,309 ordinary shares of Mutual Benefits Assurance Plc between June 3 and June 9, 2026.

According to the notification, the shares were sold at prices ranging from ₦4.20 to ₦4.33 per share, placing the total value of the transaction at between ₦6.33 million and ₦6.53 million.

The transaction was reported as an initial notification of insider dealing in line with regulatory requirements that mandate directors and other insiders of listed companies to disclose transactions involving the securities of their companies.

Mutual Benefits Assurance identified the financial instrument involved in the transaction as its ordinary shares, traded on the Nigerian Exchange under the ticker symbol “MBENEFIT.”
Insider dealing notifications are a key component of market transparency and corporate governance, providing investors with information on share transactions undertaken by directors, executives, and other individuals with access to potentially price-sensitive information.

While insider transactions often attract investor attention, market analysts note that such dealings do not necessarily indicate changes in a company’s outlook, as they may be influenced by personal investment decisions, portfolio rebalancing, or other financial considerations.

The disclosed transaction took place in Lagos, Nigeria, and was executed over a seven-day period between June 3 and June 9, 2026.

Mutual Benefits Assurance Plc remains one of the companies listed on the Nigerian Exchange that regularly complies with insider dealing disclosure requirements, reinforcing transparency in the capital market.

The post Insider Dealing: Mutual Benefits Director, Ogunbiyi Sells Shares Worth Over ₦6.3 Million appeared first on Business Today NG.

Business

FG debunks claims of plans to introduce telecoms, fuel taxes

Published

14 hours ago

June 18, 2026

Preport

The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.