NSITF boss urges ECA compliance, announces N172.5m payout to workers
By Ukpono Ukpong
The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF), Barrister Oluwaseun Faleye, has urged employers across the country to comply fully with the Employees’ Compensation Act (ECA), even as the Fund prepares to disburse N172.5 million in compensation to seven employees affected by work-related incidents.
Speaking yesterday at the 4th edition of the Nigeria Employers Summit organized by the Nigeria Employers’ Consultative Association (NECA), as well as the maiden International Civil Service Conference, both held in Abuja, Faleye emphasized the centrality of workers’ welfare to national development and enterprise success.
“The welfare of workers is key to any enterprise and must be prioritized above every other consideration.” Faleye stated.
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While acknowledging the challenges confronting employers in the private sector, he stressed that “in order to create sustainability, we must pay attention to the welfare and safety of the critical stakeholders within the value chain: the workers.
“It is by adhering to laws such as the Employees Compensation Act, through which the Employees Compensation Scheme came about, that this can be achieved.”
Faleye also reaffirmed NSITF’s partnership with NECA to improve the well-being of workers in Nigeria, particularly in the private sector, even as he praised NECA’s leadership and commitment to promoting labour-friendly practices and assured continued stakeholder engagement to boost compliance.
In demonstrating the scheme’s impact, Faleye disclosed that the NSITF recently disbursed N25 million to an injured National Assembly staff and N18.6 million as death benefit to the family of a deceased employee of the Planned Parenthood Federation of Nigeria.
“Next week, I shall, on behalf of the Fund and in fulfillment of our commitments under the Scheme, be presenting cheques of N31.1 million to an employee of Nestle Nigeria Plc, N4.9 million to an employee of Polaris Bank Limited, and N15.4 million to a Medplus employee,” he said.
He further listed additional disbursements, including N86 million to a staff of Mobil Producing Nigeria, N15.6 million to a Zenith Bank employee, N7.8 million to a worker at Alexander Marius Investment Limited, and N11.7 million to a Unity Bank staff.
Faleye, however, lamented the poor implementation of the Employees’ Compensation Scheme at the state and local government levels.
“Can you imagine how many of our colleagues in the public sector could have benefitted from this Scheme if it has been robustly institutionalized?” he asked.
He highlighted the broader impact of the scheme, noting that “this support, in the form of financial compensation, helps employees and their families cope with the financial and emotional strain of unforeseen and unfortunate events.”
Beyond compensation, Faleye explained that the Fund also supports rehabilitation and workplace reintegration, adding that “this promotes a more productive and resilient workforce as employees are better equipped to overcome challenges and return to their roles.”
He also spoke about NSITF’s proactive workplace safety initiatives, saying, “we undertake workplace health and safety audits and awareness with the aim of reducing workplace injuries, occupational diseases, and death.”
He further urged all the stakeholders to activate the social safety net required to build a resilient civil service, so that all staff members can give their very best for the transformation of our society.
