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Tag: NSITF

  • ‘N10.20b transferred to NSITF contributors’

    ‘N10.20b transferred to NSITF contributors’

    The National Pension Commission (PenCom) has said N10.2 billion has been transferred into the Retirement Savings Account (RSAs) of 142,486 Nigerian Social Insurance Trust Fund (NSITF) Scheme contributors from 2014 to date.

    Director-General, National Pension Commission (PenCom), Mrs Aisha Dahir-Umar, who spoke at an interactive session organised by PenCom and Nigeria Employers’ Consultative Association (NECA) in Lagos, said the commission has been creating awareness on the transfers.

    Mrs Dahir-Umar, represented by Dr Anyim Nyerere, Commissioner for Technical, PenCom, said this was in compliance with the commission’s responsibility of supervising the transfers, following the enactment of the Pension Reform Act (PRA) 2014.

    “To ensure that contributors under the NSITF scheme have their NSITF contributions transferred to their RSAs, the commission had featured advertorials requesting NSITF contributors to apply for the transfer of their contributions.

    “PenCom wishes to implore  employers to encourage their employees, who have contributed to the NSITF scheme, to liaise with their PFAs and, in particular, Trustfund Pensions for guidance on how to have their contributions transferred to their RSAs,” Dahir-Umar said.

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    According to her, the number of RSAs under the Contributory Pension Scheme (CPS) as at the end of third quarter of the year, stood at 10 million.

    Mrs Dahir-Umar said the size of the pension Asset Under Management (AUM) amounted to N16.76 trillion in the period under review.

    She noted that, accordingly, the contributions of the OPS in this regard could not be overemphasised.

    According to her, the interactive session was organised to unfold new developments and tackle challenges facing the pension scheme in the country.

    The director-general said that the programme was initiated to enlighten OPS on the current developments and challenges in the implementation of the Pension Reform Act (PRA) 2014.

    “Obviously the pension industry is one of the fastest-growing financial sectors in Nigeria.

    “This programme was put in place to enlighten the organised private sector on the new developments and resolve some of the challenges facing the sector.

    “The objective of the interactive session is to enlighten the OPS on the workings of the CPS and share thoughts on emerging developments in the Nigerian pension space,” she said

    Dahir-Umar said that the commission had continued to take giant strides towards ensuring the smooth implementation of the CPS through the revision of existing regulations, guidelines and the development of new ones.

    She said that PenCom had deployed the Enhanced Contributors Registration System (ECRS) and Data Recapture Exercise (DRE).

    The director-general stated that this mandatorily requires all RSA holders, who joined the CPS prior to July 1, 2019, to update their information with their respective Pension Fund Administrators (PFAs).

    She charged RSA holders who are yet to approach their PFAs for data recapture to do so.

    She assured the OPS that the commission would continue to ensure robust social dialogue with NECA in the interest of all stakeholders under the CPS.

    According to her, the commission will always support NECA to champion programmes that will ensure the successful implementation of the CPS in Nigeria.

    Commenting, Mr Bala Babangida, Head, Department of Compliance and Enforcement, PenCom, said that compliance in the industry includes opening of RSA with a PFA by employees.

    Babangide added that employers must also ensure monthly deduction and remittance of pension contributions and provision of Group Life insurance policy for their employees

    Mr Obiora Ibeziako, Head, Department of Benefit and Investment, PenCom, listed the basic objectives of pension investments to include safety liquidity and fair return.

    Ibeziako added that the general principles of the pension scheme involved consultation, prudent, effective surveillance and regulatory.

    In his remark, Director-General, NECA, Mr Adewale Oyerinde, said that the deliberation would give rooms for more improvement and development in the pension sector.

    “There is always a room for improvement and this is one of the area of development.

    “I am sure that this interactive session would pave way to improving further the pension scheme,” Oyerinde said

  • Govt to unbundle NSITF for efficient service delivery

    Govt to unbundle NSITF for efficient service delivery

    Minister of Labour and Employment, Simon Lalong has said that the Federal Government will “unbundle” the Nigerian Social Insurance Trust Fund for efficiency and make its operations fair to all staff members. 

    He promised that no staff would be witch-hunted in the process.

    The minister said this during the flag-off of this year’s Customer Service Week at NSITF Headquarters in Abuja on Thursday.

    Lalong assured the management and staff of the support and cooperation of the ministry towards ensuring that the Renewed Hope Agenda of President Bola Tinubu and his vision for Nigerian workers was actualised in the agency.

    The minister charged the staff to continue to put in their best to actualise the Employee Compensation Scheme.

    In a statement by the General Manager, Corporate Affairs, Nwachukwu Godson, the minister urged the workers to work hard and shun all distractions that would pull the organisation down.

    He further urged the agency to exploit the opportunity offered by Customer Service Week to review its services to the Nigerian workers with a view to serving them better.

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    Executive Director, Administration, NSITF Prof. Gabriel Okenwa hailed Lalong for being responsive to the needs of the staff and added it was the first time in the history of the agency that its supervising minister would flag off its Customer Service Week.

    He assured the minister that the agency had already keyed into the Renewed Hope Agenda of the Federal Government, ranging from transparency, and efficient deployment of resources to streamlining the operations of the Fund in line with global best practices.

    He said: “Our new mantra is that this fund, ‘the NSITF Can.’ If there are missteps in the past, present management and staff are already forging ahead, ever determined to ensure that we deliver fully on our onerous obligation to the world of work.

    “The services we offer are ones that are dear to the heart of every Nigerian worker – safety at workplaces and prevention of accidents, paying of compensation for injury in the course of work, rehabilitation, and assisting injured enrollees to be on their feet again while helping bereaved families live beyond pains in case of death of dear ones in the course of work.

    “We can’t thank the minister, indeed the Federal Government enough for insisting that the huge benefits of the Employee Compensation scheme should be available to every worker in the public sector through a compulsory contribution of 1% of their emoluments by the MDAs. It is important to also state clearly that this 1% deduction is not to be made from the salaries of workers.”

    Deputy General Manager and Head of NSITF’s SERVICOM Department, Gertrude Biosah said the annual event was an opportunity to recognise and appreciate dedicated frontline representatives and foster a sense of teamwork amongst our Staff.

    “Customer Service Week is an internationally recognised celebration that emphasises the importance of exceptional customer service.

    “By participating in this event, we can enhance productivity, build resilience, and boost employee morale. The event is an international celebration which affords organisation an opportunity to appreciate both the internal and external customers.”

  • FG plans to unbundle NSITF for efficient service delivery

    FG plans to unbundle NSITF for efficient service delivery

    Minister of Labour and Employment, Simon Lalong, has said the Federal Government would “unbundle” the Nigerian Social Insurance Trust Fund (NSITF) for efficiency and make its operations fair to all staff members. 

    He promised that no staff would be witch-hunted in the process.

    The minister said this during the flag-off of this year’s Customer Service Week at NSITF Headquarters in Abuja on Thursday, October 5.

    Lalong assured the management and staff of the support and cooperation of the ministry towards ensuring that the Renewed Hope Agenda of President Bola Tinubu and his vision for Nigerian workers was actualised in the agency.

    The minister charged the staff to continue to put in their best to actualise the Employee Compensation Scheme.

    In a statement by General Manager, Corporate Affairs, Nwachukwu Godson, the minister urged the workers to work hard and shun all distractions that would pull the organisation down.

    He further urged the agency to exploit the opportunity offered by Customer Service Week to review its services to the Nigerian workers with a view to serving them better.

    Executive Director, Administration, NSITF Prof. Gabriel Okenwa hailed Lalong for being responsive to the needs of the staff and added it was the first time in the history of the agency that its supervising minister would flag off its Customer Service Week.

    Read Also: FG directs MDAs to remit 1% of mandatory contributions to NSITF 

    He assured the minister that the agency had already keyed into the Renewed Hope Agenda of the Federal Government, ranging from transparency, and efficient deployment of resources to streamlining the operations of the Fund in line with global best practices.

    He said: “Our new mantra is that this fund, ‘the NSITF Can.’ If there are missteps in the past, present management and staff are already forging ahead, ever determined to ensure that we deliver fully on our onerous obligation to the world of work.

    “The services we offer are ones that are dear to the heart of every Nigerian worker – safety at workplaces and prevention of accidents, paying of compensation for injury in the course of work, rehabilitation, and assisting injured enrollees to be on their feet again while helping bereaved families live beyond pains in case of death of dear ones in the course of work.

    “We can’t thank the minister, indeed the Federal Government enough for insisting that the huge benefits of the Employee Compensation scheme should be availed to every worker in the public sector through a compulsory contribution of 1% of their emoluments by the MDAs. It is important to also state clearly that this 1% deduction is not to be made from the salaries of workers.”

    Deputy General Manager and Head of NSITF’s SERVICOM Department, Gertrude Biosah said the annual event was an opportunity to recognise and appreciate dedicated frontline representatives and foster a sense of teamwork amongst our Staff.

    “Customer Service Week is an internationally recognised celebration that emphasises the importance of exceptional customer service.

    “By participating in this event, we can enhance productivity, build resilience, and boost employee morale. The event is an international celebration which affords organisation an opportunity to appreciate both the internal and external customers.”

  • FG directs MDAs to remit 1% of mandatory contributions to NSITF 

    FG directs MDAs to remit 1% of mandatory contributions to NSITF 

    Ministries, Departments and Agencies of the Federal Government have been asked to commence the payment of the mandatory contribution of one per cent emoluments of all public servants to the Employees’ Compensation Scheme of the Nigeria Social Insurance Trust Fund (NSITF).

    The federal government gave the directive through a circular dated September 22, 2023 and signed by the Secretary to the Government of the Federation, George Akume.

    The circular was copied to all arms of the federal government and agencies under them.

    It would be recalled that the Extraordinary Session of the Federal Executive Council under former President Muhammadu Buhari had on May 15, 2023 given approval for statutory one per cent e-deduction from the total emoluments of the Federal Public Servants as Employee Compensation contributions, with effect from January 2023.

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    The circular stated that the Minister of Finance and Coordinating Minister for the Economy was directed to “deduct the contributions from source and remit same to the NSITF for the payment of claims and compensations to deserving beneficiaries for death, injury, disease or disability sustained in the course of duty as provided in the Employees’ Compensation Act, 2010, Act No. 13.”  

    It further directed all ministries, departments and agencies of government to “ensure strict compliance with the circular.”    

    Managing Director, NSITF, Maureen Allagoa hailed the decision of the Federal Government, adding that NSITF has been “energised to deliver on its responsibilities to the Nigerian workers.”

    In a statement on Sunday by the General Manager, Corporate Affairs, Nwachukwu Godson, she said: “We received a circular from the Office of the Secretary to the Government of the Federation, making it compulsory for 1% contribution from the total emoluments of public servants to be compulsorily remitted to the NSITF in view of the Employees’ Compensation Act. 

    “This is a giant plus to our charge as the nation’s core social security agency as it will give a big push to the momentum of our operations in their ramifications. There shall be no excuses on our own part in fully keying into the Renewed Hope Agenda of the Federal Government. The effort is collective and we shall not rest on our oars until we reach out to all Nigerian workers whether in the formal or informal sector.” 

    She also stated that the fact that the current Federal Government had taken this “bold and great step means we are moving in the right direction.” 

    Observing that the urgency given to securing a new office for the Abuja region and the FCT branch was in line with her commitment to decent work, Allagoa re-assured the workers of “rights at work, human dignity, social protection and dialogue in line with the Decent Work Agenda of the International Labour Organisation.”  

    She added: “We have gone round and observed some challenges which will be tackled forthwith. Staff should feel comfortable, your welfare is key because once we get the staff welfare correct, everything falls in place in terms of performance.

    “Earlier in the year, some buses were procured and sent to offices in each region to ease operations. And recently, we received another batch of ten buses for distribution while the rest will come at the end of the year.

    “To further boost morale, management is putting together a reward package for those staff who personally and collectively distinguish themselves in the performance of duty. The measure will spur others on.

    “Besides, we are working out a new three-tier structure for MPR. First is the monthly online engagement with branch and regional managers to keep track of their performance, then the quarterly regional MPR – where two or three regions will be brought together at a centre with delegates sent from the head office and finally, the biannual MPR.” 

    She commended the staff of the Abuja region and the branch for their sterling performance in meeting up with their targets. 

    She was accompanied on the visit by the Executive Director, Finance, Adegoke Adedeji who urged staff members to remain resilient, General Manager, Compliance, Kabir Maaji, General Manager, Jonah Nedamanya among others.     

    In response, the Association of Senior Staff of Banks, Insurance and Financial Institutions(ASSBIFI) extolled Allagoa for her deep commitment to decent work and steadfastness to social dialogue in the resolution of disputes. 

    ASSIBFI, who spoke through its Abuja Region’s Public Relations officer, Godwin Ekpa assured her of the support of the workers in her effort to re-engineer the NSITF.   

    He said: “I want to start by recognising the fact that your management showed promptness in relocating the Abuja region and the FCT branch to this new office when we raised the alarm over the condition of the former office. And for you to visit us here in less than three weeks we re-located, demonstrating the extent you care for the staff.” 

    He further lauded the equitable manner the result of the last CTB examination was handled and further urged that the sense of justice be brought in determining the fate of others who sat for the management examination last year.

    The Abuja Regional Acting Manager, Alexandra Mede said the distinction which the Managing Director of the NSITF brought in the discharge of her responsibilities since appointment, has marked her out as a listening and competent team leader.

  • Maritime varsity to make NSITF compliance certificate mandatory for contract bidding

    Maritime varsity to make NSITF compliance certificate mandatory for contract bidding

    Vice-Chancellor, Nigeria Maritime University, Okerenkoko, Delta State, Prof. Emmanuel Adigio has said the institution’s Tender’s Board would, henceforth, list the Nigeria Social Insurance Trust Fund (NSITF) compliance certificate as a mandatory requirement for contract bidding.

    The VC said this while addressing a team from the NSITF who came on a sensitisation and advocacy visit to the university.

    A statement by the General Manager, Corporate Affairs, NSITF, Nwachukwu Godson said Adigio applauded the new management team of the NSITF for its visible commitment towards the actualisation of the Employee Compensation goals.

    “I am glad and impressed that you took the pains, time and risk to come this far to enlighten us. Your resolve, detailed presentation of the vast benefits of the scheme, how to access them and your account of traceable beneficiaries of the scheme around us, have shown the seriousness of your organisation,” the vice – chancellor said in the statement.

    He extolled the management of the NSITF for its sensitivity to the needs of the nation’s workforce and promised to keenly study the scheme along with his team, with a view to enrolling the staff of the university as soon as possible.

    The Managing Director, NSITF, Maureen Allagoa, who was represented by Warri Branch Manager, Erhire ?ghifo said the NSITF has “successfully keyed into the Renewed Hope Agenda of President Bola Tinubu administration,

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    He said the NSITF, as the key social security agency of the Federal Government, has enormous roles in lifting the lots of workers.

    “We offer free occupational safety training to workers to eliminate hazards and promote productivity. We also meet the workers at their critical point of need – eventuality of accidents or even death in the course of work. We rehabilitate, we pay benefits and assist a worker get up on his feet again. And where the inevitable comes, we assist dependants, the bereaved family live beyond tears,” he said.

    Oghifo noted that increased productivity and industrial harmony were part of the benefits of the scheme.

    He also listed some claims beneficiaries in Warri and the environs, explaining that the advantages of the Employee Compensation Scheme over the repealed Workman Compensation Act (WCA) laid in the uniqueness of the ECS as a “no fault scheme”.

    “The fund is determined to live down its past and pull along the nation’s workforce at a time no effort should be spared towards a fulfilling world of work,” he said.

    Meanwhile, in line with the agreement reached with NSITF domestic unions at the conciliation convened  onJuly 10 by the former Permanent Secretary, Federal Ministry of Labour and Employment, Daju Kachollom, this year’s management promotion examination  will take place from October 3-6, 2023.   

    “Similarly, in fulfilment of the agreement reached with the domestic units of the Association of Senior Staff of Banks, Insurance and Financial Institutions(ASSBIFI) and the National Union of Banks, Insurance and Financial Institution Employees(NUBFIE), the 2023 management promotion examination will take place from 3rd to 6th Oct 2023,” the statement added.

    Allagoa said merit-based career progression was important for boosting the morale of the workforce towards optimal productivity.

    She assured of the determination of the management to re-engineer the operations of the NSITF to adequately play its role as the nation’s number one social security vehicle.

    She also noted that despite challenges, she was leaving no stone unturned in taking every measure necessary to achieve an efficient and resilient workforce.

    The agency said a computer-based promotion examination for the non-management cadre had taken place on July 28, 2023 across the 12 regions of the NSITF.

  • PAYE: NSITF pays N62m to Plateau workers

    PAYE: NSITF pays N62m to Plateau workers

    • Govt, agency unite

    The Nigeria Social Insurance Trust Fund (NSITF) and Plateau State Government have agreed to withdraw their tax dispute from the Tax Appeal Tribunal and set up a four-man technical committee to resolve the matter.

    The members of the committee include Paul Yakubu and Markus Chollom from the Plateau State Internal Revenue Service (PSIRS), Kwatmen Mattias as well as Oche Samson of the NSITF. The committee was given a week to deliver on the assignment. 

    This comes as the NSITF paid N62 million as the backlog of Pay As You Earn Tax (PAYE) of its regional and branch staff members to the PSIRS.

    General Manager, Corporate Affairs, NSITF, Nwachukwu Godson stated this in a statement yestersday in Abuja.

    Executive Chairman of PSIRS, Jim Waya hailed the management of the NSITF for clearing the decade-long arrears of PAYE remittances to the state and accepted a request by the NSITF for an out-of-court settlement.

    He further assured that PSIRS will support the NSITF towards the implementation of the Employee Compensation Scheme(ECS) to the benefit of workers in the state.

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    He expressed dissatisfaction that PSIRS reneged on its one per cent contributions to employee compensation since registering for the scheme in 2012 and assured the NSITF of redress.

    Waya said: “This social security scheme is for the benefit of workers and their dependents in case of accident or death in the course of work. As the new Executive Chairman of PSIRS, my vision is to reposition it by aligning with programmes that promote our primary service to the state in terms of revenue generation as well as key into schemes such as the ECS which will uplift the welfare of our staff.” 

    He stated that PSIRS would revisit its status on the employee compensation scheme (ECS) and start payment soon.

    Regional Manager of the NSITF, Jos, Martins Kuku called for a working partnership between the two organisations, noting that the NSITF as a responsible social security agency would continue to discharge its responsibilities to the government and workers in Plateau State.

    He said it was time the tax dispute between the Plateau State Internal Revenue Service and the NSITF was resolved.

    Kuku said: “It is at this instance that I seek the support of your organisation for the resolution of the lingering PAYE dispute between the NSITF and the Plateau State Internal Revenue Service in the interest of harmonious and inter agency cooperation. 

    “The time is here and the right decision is for us to withdraw the dispute from the Tax Appeal Tribunal for an out of the Court settlement in line with the ILO Convention on social dialogue and, especially in the background of the exceptional commitment to obligations by our new Managing Director, Barr. Maureen Allagoa.

    “In a demonstrable steadfastness to our paradigm shift, the new leadership of the Fund has cleared the backlog of PAYE remittances amounting to over N62,000,000.00 (sixty-two Million Naira) to the Plateau State Internal Revenue Service, giving us a clean bill up to August 2023.

    “A cordial relationship between our two organisations is mutually beneficial as it enhances seamless delivery of our mandates and obligations to the citizens of Nigeria. We are full of hope that the PSIRS which you chair today, will reciprocate the patriotism of the new NSITF leadership and commerce contribution to the employee compensation scheme which was abandoned after registration in 2012.”

    Kuku said the NSITF has been paying claims and compensations to different enrollees in the state who properly lodged their cases with verifiable documents.

    “We therefore cannot stop asking for the cooperation of government agencies to spread the good news of employee compensation which we are empowered to bring to the doorstep of the Nigerian workers,” he added.

  • More states to join NSITF’s employee compensation scheme

    More states to join NSITF’s employee compensation scheme

    The Nigeria Social Insurance Trust Fund (NSITF) has said more state governments are set to key into its Employee Compensation Scheme.

    This will enable public sector workers at the state and local government levels to enjoy the benefits of the scheme in the world of work.

    The agency said Anambra and Abia state governments have promised to put measures in place to enroll their workers into the scheme. 

    Speaking in Awka, the Anambra State capital, when the state branch of the NSITF paid a sensitisation visit to the Government House, Head of Service (HoS) Theodora Igwegbe said she would liaise with all relevant offices towards ensuring that the state government enrolls its workers into the scheme.

    In a statement yesterday in Abuja by NSITF’s General Manager, Corporate Affairs, Nwachukwu Godson, the agency boss said she was conversant with the Employee Compensation Act of 2010 and the enormous benefits the scheme could bring to the state and its employees.

    She said: “While I served as the Deputy Clerk of the Anambra State House of Assembly in 2017, I engineered a private member Bill, through my representative, on the Employee Compensation Scheme for possible adoption by the state government. But that did not see the light of day.

    “With my current position as the Head of Service, I believe a great opportunity is here for me to liaise with other necessary offices in the state towards the implementation of this laudable scheme.”

    Igwegbe promised to liaise with the state’s Accountant General and other relevant officers in a joint push to actualise the programme.

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    NSITF’s Acting Manager for Awka branch, Okpala Chibikem said Governor Charles Soludo’s vision of Dubai-Taiwan would receive a big boost with the enrolment of workers into the scheme.

    He said: “The ECA 2010 is aimed at providing guaranteed and adequate compensation to registered employees in the event of death, injury, disability or diseases arising from work or in the course of work, at the place of work or outside of it.

    “It also provides compensation to the next of kin of an employee who may die at work or in the course of work. The one per cent of the workers’ emoluments to be paid as contribution by the state government is not deductible from workers’ salaries as the state government, by ECA 2010, should shoulder the responsibility.”

    Okpala was accompanied by the branch’s Head of Legal Unit, Peter-Maximus Onunkwo, as well as another official, Okey Ndubisi.

    Also, the Chief of Staff to the Abia State Government, Ajagba Chukwurah, assured the people that the new administration would deploy employee compensation as one of the tools to lift the lots of Abia State workers.

    Ajagba, who alongside the Senior Special Assistant to Governor Alex Otti on Commerce and Industry, Nwaka Inem, addressed a visiting team of the Umuahia branch of the NSITF, hailed the Federal Government for establishing the scheme but noted that a lot needed to be done to sensitise the public about its benefits.

    Manager of the Umuahia Branch of the NSITF, Uzoafia Ulari said the agency was making steady progress in the enrolment of private businesses in the state.

    He urged the state government to avail its workers the benefits that NSITF provides by registering them.

    Uzoafia was accompanied by the Manager of the Owerri branch of the NSITF, Wogu Enyinnaya, and the branch’s Head of Compliance, Ngozi Awuloha.

  • N6b paid as compensation to injured workers in 12 years, says NSITF MD

    N6b paid as compensation to injured workers in 12 years, says NSITF MD

    The Nigeria Social Insurance Trust Fund (NSITF) has said it paid over N6 billion as employees’ compensation between 2011 and July this year.

    The agency said it processed 99,678 claims covering death, medical expenses, disability and retirement benefits, treatment, provision of prosthesis, which have been given to hundreds of injured workers.

    Its Managing Director/Chief Executive Maureen Allagoa said this during a visit to the Secretary to the Government of the Federation (SGF), Senator George Akume. 

    A statement yesterday in Abuja by NSITF’s General Manager, Corporate Affairs, Nwachukwu Godson, said Allagoa recalled that in the first and second quarters of this year, the agency settled about 8,000 claims.

    She said: “Between 2011 and July 2023, the NSITF paid a total of 99,678 claims under various contingencies of death, medical expenses, disability and retirement benefits, as well as further treatment, among others, like prostheses, which have been given to hundreds of injured workers – all totalling over N6 billion.

    “In the first and second quarters of 2023 alone, the fund settled about 8,000 claims.

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    “For example, we currently have a worker who died in the course of work and whose family is being paid N1,350,000 monthly, which is 90 per cent of the deceased’s salary. The payment will continue till 2038 when his last son will be 21 years old, in line with our establishing Act.

    “We also didn’t lose sight of the welfare of our workers. We have reviewed the Condition of Service – last done in 2004 – as well as reviewed the salary structure that has been in use since 10 years ago to improve the lot of our workforce and boost their morale.

    “We are currently digitising our processes to enthrone transparency and accountability as well as ease the operation of these processes for customers and staff members.”

    Allagoa hailed Akume on his appointment and highlighted his immense contributions to the growth of the nation.

    The NSITF boss said the organisation was finding it difficult to penetrate the informal sector, despite a Federal Executive Council (FEC) approval authorising the implementation of Employee’s Compensation for all public servants through a compulsory one per cent deduction from the source of emoluments of Ministries, Departments and Agencies (MDAs). 

    She said: “The NSITF, since 2010, has registered 14,000 employers, which translates to over 7.4 million employees, majorly from the organised private sector.

    “We are also currently making inroads into the informal sector but seriously handicapped in the public sector, despite the FEC approval of May 15, 2023, authorising the implementation of Employee’s Compensation for all public servants through a compulsory one per cent deduction from the source of emoluments of the MDAs.”

  • NSITF to make ECA scheme attractive to employers

    The Nigeria Social Insurance Trust Fund (NSITF) plans to make the Employment Compensation Scheme (ECA), attractive to employers.

    Speaking at the Fidau prayer for the late president of Nigeria Employers’Consultative Association (NECA), Dr. Muhammad Jimoh Yinusa,  NSITF Chairman, Austin Enejamo-Isire, said the fund was set to propagate the benefits of the scheme to employers, noting that such  campaigns would make employers key into the scheme.

    He said: “It is our plan to enhance the vision of NSITF, which would ensure deliverance and what is our vision, to be the leading social security institution in Africa as well as build the economy of our country.

    “We have a deliberate action on safety net and it is our main target to ensure that workers are well protected in the workplaces and should there be any accident that they are well compensated.

    “Employers who are under the scheme are better off than those who are not, this is because, in case of accident during the course of work, they pay nothing to take care of their employee, short of the mandatory 1 per cent contribution.”

    Enejamo-Isire reiterated the need to make employers aware of the advantage of enrolling their workers in the scheme.

    According to him, awareness was key to the success of the scheme, adding that the Federal Government was doing a lot for Nigerians in social investments to provide a fair deal for all citizens.

    He said: “I have just resumed as the chairman of the NSITF board and I believe that one way to increase enrolment is to create awareness and I do know that if you do great things and you fail to propagate those things, nobody will recognise that.’’

  • NSITF praises ILO on social security safety initiatives

    The Nigeria Social Insurance Trust Fund (NSITF) has lauded the International Labour Organisation (ILO) for institutionalising social security initiatives that have impacted positively on the working class.

    Its General Manager, Administration, Segun Basorun, who stated this in Abuja recently, explained that ILO’s conventions and standards have helped in ensuring social cohesion in the world of work globally.

    “In the last 100 years, since 1919 when it was created, ILO has impacted positively on the world. Concerning social security, it has nine pillars that are very important in the life of human beings. These pillars are all resolutions, standards that nations have ratified.

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    “I know that the safety that the fund provides for workers in Nigeria would not have been possible without the ILO establishing that standard, which was ratified by the Nigerian government. The fact that the ILO has created these pillars gives a kind of direction for nations to follow as far as social security is concerned,” he stated.

    Basorun said countries are at different stages of development, adding that there are countries that provide for loss of employment as a social security item, adding that the fund is executing the task in partnership with the national umbrella body of employers in the country, Nigeria Employers Consultative Association (NECA).

    “We have a partnership with NECA on promoting safe work environment by preventing occupational accidents. When you prevent accidents people will go back home the way they left. The partnership with NECA encourages employers to further realise that they have a responsibility to ensure that work is done safely in their organisations.

    “Apart from NECA, we have safety officers all over Nigeria, who also pay advocacy visits to organisations to talk about health and safety and the importance of doing work in a manner that is safe. These safety officers do root course analysis of why accidents happen, where they happen and recommend steps aimed at preventing reoccurrence because ultimately, all accidents are caused,” Basorun said.

    He added that the NSITF is equally partnering trade unions and trade centres in the country to entrench the importance of safe work environment and collaborating with them to encourage employers of their members to join the Employees Compensation Scheme (ECS).

    “Workers would put in their best when they know they would be taken care of in case of occupational injuries. So, that is why we say the ECS is a win-win scheme that finds no fault,” he said.