Mr Oluwaseun Faleye, MD NSITF while speaking during an interview with the News Agency of Nigeria (NAN)
The Nigeria Social Investmenr Trust Fund (NSITF) says it pays several major claims to enrollees under its Employees Compensation Scheme (ECS), including N90 million to an employee of Seplat, an indigenous energy company.
The Managing Director of the Fund, Mr Oluwaseun Faleye disclosed this during an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.
Faleye also disclosed that the Fund paid N30 million claim to a Nestle PLC worker, N17 million to an employee of MedPlus and N11 million to a worker of Unity Bank.
"These are not just numbers; they represent real families whose lives have been restored.
"Processing and approving such claims is part of our day-to-day responsibility, and we will continue to do so diligently," he said.
NAN reports that the ECS is governed by the Employees' Compensation Act (ECA) 2010, which establishes a mandatory social insurance program for public and private sector employees.
The Act mandates employers to register with the NSITF and contribute to an Employee Compensation Fund to provide compensation for work-related death, injury, disease, or disability.
Narrating some success stories of the Fund, Faleye said they were in Nnewi, a major industrial and commercial city in Anambra two weeks back, where they showcased some of the beneficiaries to demonstrate the real impact of the ECF.
"In this year alone, claims payment has increased by about 56 per cent compared to the previous year, a clear result of our improved claims process," he said.
Speaking on what the Fund is doing to promote workplace safety and accident prevention, Faleye said NSITF' took occupational health and safety very seriously.
"We believe that, preventing workplace accidents should be at the forefront of our mandate, because the fewer accidents that occur, the fewer claims we will need to process.
"One of our key initiatives is our collaboration with the Nigeria Employers' Consultative Association (NECA) on a project called the Safe Workplace Intervention Programme (SWIP).
"Through this initiative, we jointly visit workplaces across the country to promote safety standards, conduct audits, and share best practices with employers.
"We fund these activities and work hand-in-hand with NECA to raise awareness across the private sector," he said.
For the public sector, Faleye said NSITF' carried out similar initiatives as part of the benefits of registration under the employees' compensation scheme.
The initiatives, according to him, included, safety education, workplace audits, and guidance on identifying hazardous environments.
He said they also worked closely with the Federal Ministry of Labour and Employment during factory inspections, focusing on the health and safety aspects of their oversight.
Faleye added that the Fund partnered with the Institute of Safety Professionals of Nigeria, who used its expertise in expanding NSITF's outreach and share knowledge across industries.
He said the collaborations were key to promoting a culture of safety in Nigerian workplaces.