The Nigeria Social Insurance Trust Fund (NSITF) has said the 22,350 claims processed in 2024 ensured beneficiaries of the Employees Compensation Scheme (ECS) received timely support.
The Fund noted it would be innovative and proactive in its process to meet the rising expectations of ECS beneficiaries, while expressing a strong determination to surmount the dynamic socio-economic landscape and stringent regulatory frameworks that would impede on its mandate to deliver social protection services to Nigerians.
Speaking at the opening of the Management Performance Review of the Nigeria Social Insurance Trust Fund (NSITF) in Lagos, the Managing Director of the Fund, Oluwaseun Faleye, disclosed that the organization has started the process of leveraging technology to facilitate its registration process with the intention of improving transparency and trust.
According to him, this has become necessary in order to forge collaborative partnerships with agencies that are able to facilitate the delivery of it’s mandate, including amplifying awareness and compliance among employers and employees to deepen adoption of the ECS.
Faleye said the review session is, therefore, an opportunity to critically assess their performance, celebrate what works, and address what does not.
He said: “As Custodians of the Employees’ Compensation Scheme, our mandate is clear and it is to provide timely compensation and support to employees affected by workplace injuries, disabilities, diseases, or fatalities.
“This scheme is not just about financial redress, it is a lifeline that upholds dignity, fosters safer workplaces, and strengthens Nigeria’s social security architecture.”
Buttressing the legacies of the NSITF, Faleye posited ” ln the past year, we have made significant strides: We have processed 22,350 claims in 2024, ensuring beneficiaries received timely support.
“We have expanded our outreach to 13 regions and created five new branches across the country brining the total numbers of branches to 62.
“The Fund now cover 183,528 employers and 7,616,476 employees. We have conducted 3,250 health and safety audits and 808 investigations and 2,035 awareness initiatives and 248 follow-up audits.
“We continue to forge collaborative partnerships with agencies that are able to facilitate the delivery of our mandate including amplifying awareness and compliance among employers and employees to deepen adoption of the Scheme.
“However, we are not blind to the hurdles: delayed employer remittances, gaps in public awareness, and systemic issues that contributes to diminished operational efficiencies.
“These challenges test our resolve but also sharpen our focus.
“Let us therefore use this platform to engage in open, honest, and constructive discussions.
“Let us ask ourselves the tough questions, challenge assumptions, and explore new ideas. Our goal is not just to meet targets but to exceed them, ensuring that the NSITF remains a beacon of hope and support for all Nigerians.”
Executive Director Operations (NSITF), Mojisola Alli-Macaulay, said the MPR was a crucial exercise aimed at assessing the Fund’s performance in the 2024 financial year and setting a clear strategic course for 2025.
“This event is of utmost importance as it provides a platform for us to critically evaluate our achievements, identify areas for improvement, and implement strategies that will fast-track growth and enhance service delivery.
“The theme for this year’s MPR, Aligning Performance Activities with the Strategic Objectives of the Fund, underscores the necessity for every Department, Region, and Branch to work in synergy towards the overarching goals of the Fund.”
To this end, she emphasized that “The past year presented its fair share of challenges, but it also provided opportunities for us to reaffirm our commitment to excellence and innovation.
“Through the resilience and dedication of our workforce, we have made commendable strides in ensuring that the Nigeria Social Insurance Trust Fund (NSITF) remains a pillar of social security and welfare for Nigerian workers.
“As we engage in presentations, discussions, and deliberations over the next two days, I encourage every participant to actively contribute their insights and recommendations.
“Our success in the coming year will be determined by the strength of our strategies and the effectiveness of their execution.” She also observed
