*says Fund committed to greater efficiency
By Michael Oche
The Nigeria Social Insurance Trust Fund (NSITF) has reaffirmed its commitment to improving efficiency in the administration of the Employees’ Compensation Scheme (ECS), revealing that it processed 22,350 claims in 2024 to ensure beneficiaries received timely support.
Speaking at the opening of the Management Performance Review (MPR) of the NSITF at NECA House in Ikeja, Lagos, the Managing Director of the Fund, Barrister Oluwaseun Faleye, emphasized the organization’s resolve to be innovative and proactive in delivering on its mandate.
Faleye noted that NSITF is leveraging technology to enhance its registration processes, improve transparency, and build trust among employers and employees. He stressed the need for collaborative partnerships with relevant agencies to strengthen social protection and boost compliance with the ECS.
“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,” he said
He highlighted the Fund’s achievements over the past year, including expanding outreach to 13 regions, opening five new branches, bringing the total to 62, and covering 183,528 employers and 7,616,476 employees under the scheme. Additionally, NSITF conducted 3,250 health and safety audits, 808 investigations, 2,035 awareness initiatives, and 248 follow-up audits.
Despite these successes, Faleye acknowledged existing challenges such as delayed employer remittances, gaps in public awareness, and systemic inefficiencies, which he said the Fund is determined to overcome.
“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,” he added.
Earlier in her remarks, the Executive Director of Operations, Hon. Mojisola Alli-Macaulay, described the MPR as a crucial exercise to evaluate the Fund’s performance in 2024 and outline a 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,” she said.
She reiterated NSITF’s commitment to excellence and innovation, urging participants to actively contribute insights that will shape the Fund’s strategies and execution for the coming year.
