NSITF Pays N3bn Compensation To Beneficiaries In 9 Months
The Nigeria Social Insurance Trust Fund (NSITF) said it has paid out about N3 billion as compensation to its beneficiaries in public sector as of September ending, saying plans are being made to accommodate those in informal sector.
The Lagos Regional Manager of the NSITF, Ms Olufunke Aleshinloye, said this while speaking at the NSITF Special Day, during the just concluded 2019 Lagos International Trade Fair in Lagos.
She revealed that the body had paid about N3 billion in compensation as of September, 2019, adding that plans were underway to accommodate the informal sector on its Employees Compensation Scheme.
She added that those in that category would have to make contributions to the scheme, unlike the formal sector where the employer makes the contribution for the employees.
She also called employers and employees to adhere to safety measures at workplaces in order to avert occupational disasters or injuries and enhance productivity.
Aleshinloye noted that there was a positive correlation between workers welfare and productivity.
According to her, “Today is our special day at the international trade fair and over the years, we have used it as an avenue to provide counseling, promote awareness and advocacy as well as carrying out our corporate social responsibility engagements among the people. As partners in progress with the Lagos Chamber of Commerce (and Industry), we have set aside today to engage employers and employees about safety at workplaces.
“We are saying that there must be safety at workplaces so as to avoid occupational injuries or disasters because a healthy workforce will guarantee productivity. There is a positive correlation between workers welfare and productivity; a company status is not only measured by the profit of the organisation but by the wellbeing of the employees and we urge employers to provide adequate guarantee in the event of occupational disaster.”
“One of the things we have done to make business easier is by making sure employees operate the account wherever they are domiciled; payment can be made in any location and not necessarily where you opened your account. You pay in any office where we are domiciled and issue you a receipt. We will reconcile the account with the branch where you created the account,” she stated.
The Nigeria Social Insurance Trust Fund is a proactive and employee dedicated government institution committed to the welfare of employees in the event of work related accidents and injuries.
