BAN presents $25,000 to family of deceased member

Brodas Across Nigeria (BAN), IOTA Galleon through its welfare initiative, IOTA CAREs, has presented $25,502 to the family of one of their deceased member in the United States of America.

IOTA Galleon is one of the Galleons in BAN that covers members living in every axis of the United States of America.

A statement released by IOTA Galleon noted that through IOTA CAREs, a total of $25,502 was presented to the spouse and children of our late brother.

“IOTA CAREs is our internal life insurance initiative, reflecting our deep commitment to ensuring that the families of all IOTA members are well cared for in the unfortunate event of a brother’s passing.

“Recognizing the vital importance of education, we unanimously agreed that, should tragedy strike, it is of utmost priority and our duty to come together as brothers to secure the educational future of the children of our dearly departeds.

“On the 26th of June, 2024, we sadly lost a brother. In response, we collectively raised $25,502 (equivalent to 41,301,240 Naira) to support his family.

“We are pleased to announce that $10,000 (equivalent to 16,200,000 Naira) has been presented to his wife for current and living logistics, while the remaining $15,441 (after deducting the $63 for bank charges) was allocated to establish four separate 529 savings accounts for his four children.

“For those unfamiliar, a 529 account in the United States is a tax-exempt savings plan designed to help families save for education expenses, including college, K-12 tuition, and some vocational programs. The funds grow tax-free, and withdrawals are tax-free when used for qualified education expenses.

“We experienced a loss in IOTA and it did touch us all. Brother, we want you to know that your family are in great hands and we will meet again in the future to depart no more”, the statement noted.

BAN under the leadership of its Global President, Azubuike Onowu has over the years, displayed commitment in supporting the families of their deceased members.

Also, they embark on several Corporate Social Responsibility (CSR) especially in the areas of health and education, they also intervene in humanitarian issues in crisis areas across the world.