The Nigeria Social Insurance Trust Fund (NSITF) has settled over 11, 000 claims.
This was disclosed by Prince Austin Enajemo-Isire, Chairman, Management Board of the Agency while briefing newsmen in Abuja, according to NAN.
He also stated that the financial account of the fund which was in arrears for over seven years had been audited up to 2018, with 2019 and 2020 currently under the process of auditing.
What the chairman is saying
Enajemo-Isire highlighted that the scheme is undergoing a transformation and repositioning to deliver on its core mandate in line with the vision of the fund.
He said, “A new beginning, a renewed hope is woven around a commitment to rebuild NSITF that the Nigerian workers will be proud of. It is gratifying to note that since the inauguration of the present executive management, the fund has been on a turnaround and a growth trajectory.
“This is one of the key promises made by the management board to change the narratives during their inauguration with a view to enthroning sound policies, accountability and probity. It may interest you to note that this year alone, well over 11,000 claims have been paid to different categories of claimants and more are being processed for payment.”
He added, “At the inception of this management board and as contained in the Honourable Minister of Labour’s Speech, the financial account of the fund was in arrears of over seven years but as we speak, this has been audited up to date with 2019 and 2020 currently under process and auditing.”
Leveraging on the schemes’ presence in 11 regions with 56 branches across the nation to ensure easy accessibility to all employees and employers, the chairman said this would help to reach out to more Nigerians and ensure that every worker, both in the formal and informal sectors, are well protected.
He further explained that the Employee Compensation Act (ECA) guiding the operations of NSITF was a fall out of Employee Compensation Scheme (ECS) introduced and powered by an act of parliament, known as ECA in 2010.
“The primary aims of the Act is to provide fair and guaranteed compensation to any employee of a registered employer who suffers occupational hazard while on active service; either leading to death or disability. Since the enactment of the Act, we have seen a leap unto the mountain of progress and a low walk on the valleys of the not so good,” he explained.
He, however, urged employers of labour both in the private and public sectors who are yet to key into the scheme to do so as the board and new management are determined and yearning to deliver on their promises.