FUOYE approves N3.1m insurance scheme for 25 students

The Federal University of Oye-Ekiti in Ekiti (FUOYE) has approved a special insurance package of N3.1 million at N125, 000 each for 25 students to enable them to complete their programs.

The students, it said, were those unable to continue with their education following the death of their parents or guardians.

The Dean of Student Affairs of the university, Prof. Dosu Malomo in a statement issued on Sunday in Oye-Ekiti, said that the scheme would take care of the student’s tuition and other essential needs covered by the insurance.

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He disclosed that over 100 students had benefited from the scheme since it was set up.

Malomo explained that the management of FUOYE gave out N125, 000 each to the 25 students with a view to helping them continue with their education in the institution.

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“They prayed that God will bless their children too and make them achieve the best in their future endeavours,” he said.

Malomo, who unveiled the scheme as approved by the vice-chancellor, said the NICON Insurance package, was introduced as a special policy to cater for students who suddenly lost their parents or guardian responsible for funding their education.

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“Students will on submission of relevant documents, be screened for the claims of about N125, 000 each. The funds are sourced from the premium of N1, 000 paid by all students each session.

“Equally, some truly indigent students may be considered for some funds from NICON Corporate Social Responsibility (CSR) subject to the population of school and decision of NICON management.

“The criteria for qualifying for the package included earlier payment of the N1, 000 premium along with school fees, losing a parent or guardian and or the parent or guardian becoming fatally injured to a state of permanent disability,” he said.