NSITF disburses N226.96 million in employee compensation across South-East from 2022 to 2024 

This was disclosed by the Managing Director of NSITF, Mr. Oluwaseun Faleye, in a keynote address delivered during the Fund’s special day at the Enugu International Trade Fair.

Faleye was represented at the event by the Enugu Branch Manager of NSITF, Mrs. Uzoamaka Oraebgu.

According to Faleye, the compensation covered work-related deaths, injuries, occupational diseases, and disabilities sustained in the course of employment.

He said that NSITF had provided financial compensation to deceased employees’ dependents to the tune 90 per cent of total remuneration in case of death.

The managing director said that the organisation provided the compensation under its Employees Compensation Scheme (ECS).

The MD noted that the ECS also offers rehabilitation and counseling services to injured employees, with a view to reintegrating them back into the workforce as seamlessly as possible. The ECS goes a step further to compensate for injuries sustained outside of the traditional workplace but in the course of performing job duties.

A notable instance was cited where NSITF paid N25 million as compensation under ECS to an employee of the National Assembly, reaffirming the Fund’s commitment to both private and public sector workers.

The ECS is funded through a statutory one percent deduction of an employee’s total emolument by the employer, which is remitted to the NSITF. These funds are pooled and disbursed to beneficiaries across the country in the event of verified claims.

 “It may also interest you to know that the fund has so far paid the sum of N226,975,582.97 as compensation to some registered employers.  

“The ECS is funded by payment of one per cent employee’s total emolument, by the employer, to the NSITF,” he said.

In his welcome address, the President of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Mr. Odeiga Jideonwu, lauded NSITF for living up to its role in safeguarding Nigeria’s labour force.

He praised the Fund’s efforts in ensuring that employers uphold safety standards and fulfil their statutory obligations, which he said are crucial to national productivity and socio-economic development.

He further encouraged the agency to scale up its inspections, capacity-building workshops, and awareness campaigns to foster a deeper culture of workplace safety among employers and employees.

The NSITF’s ECS is a social security programme mandated by the Employees’ Compensation Act, which seeks to cushion the effects of workplace accidents and occupational diseases.