NSITF settles 24,880 claims, compensation in two years  

The Nigeria Social Insurance Trust Fund (NSITF) said on Friday that over 24,880 claims and compensation had been processed and paid to beneficiaries under different contingencies.

Mr Adebayo Somefun, Managing Director/CEO of NSITF, who spoke on development within the fund at a retreat in Lagos, said that compensation was paid to beneficiaries in the last two years.

“Within two years of our administration, NSITF has rehabilitated 42 persons, making the total of 54 since implementation of the scheme in 2011,’’ Mr Somefun said.

He said the process involved providing prosthetic limbs for employees who lost a limb in accidents while at work and training such employees on the usage of artificial limbs.

He said NSITF had also provided hearing aids to some victims, among others.

Somefun further disclosed that 347 dependants and 448 physically challenged beneficiaries were in the monthly payroll of the fund as at February 2019.

On how to access the scheme, the managing director said that employers, government or private/individual were required to pay only one per cent of total payroll of their employees to the NSITF at no cost to the employee.

Somefun said that if the one per cent was paid, NSITF would bear the burden which would have gone to the employer where there was a workplace injury, death or disability.

He warned that NSITF was considering legal options to compel employers of labour to comply with the provisions of Employees Compensation Act (ECA).

Segun Basorun, General Manager in charge of Administration, said the fund, since inception in 2011, had adopted persuasion and subtle approach in the discharge of its mandate.

Basorun said the new approach would be to invoke the relevant provisions of the law to force compliance from employers in the country.

He said the organisation was indeed a form of social insurance that provides succour directly to an employee or his/her dependants in the event of untoward occurrences in the course of duty.

The enabling Act as amended (2011) makes it mandatory for employers of labour to pay one per cent of their employees’ emolument to a pool of insurance fund which is being managed by NSITF.

The fund acts as a buffer against injuries, loss of body parts, permanent disability or death of an employee resulting from accidents on line of duty.

Credit: NAN