We have observed so much indignity in death of our alummi, we are therefore paying a One Million Naira Death Benefit to any of us, in the event of death.

Here is a breakdown of our financial obligations and mutual benefits.

  1. The Annual Subscription of N20k is purely for the social welfare of financial members.
    1. N10K per member is used as premium for the Group Life Assurance Policy. The insurance company would pay N1million death benefit in the event of death.
    2. The remaining N10k goes to a pool to tackle other deaths within the immediate family.
    3. Donations and Levies, which are optional, are exclusively targeted at periodic happier events. Like our annual anniversary etc.
    4. Yearly Scholarship Schemes to be established to fulfill our Corporate Social Responsibility at Oko. Funding shall come from returns on our corporate enterprise/s.

     

  2. A N50,000 One-Time Registration Fee, goes to finance our chosen business venture. This business venture gives the group a kind of financial autonomy.