In Six Months, NSITF Paid N.5bn Claims To Workers, Employers
THE Nigeria Social Insurance Trust Fund has disbursed N529.9 million to workers for medical expenses refunds, loss of productivity to employers, death and disability benefits, beneficiary of deceased employees and retirement benefits on behalf of disabled employees.
The fund said the claims were paid between June and November 2021, adding that it planned to reach all vulnerable Nigerians as well as employees through the Employees’ Compensation Scheme.
Disclosing this at a briefing in Abuja on Wednesday, the Managing Director, NSITF, Dr Michael Akabogu, stated that his administration is passionate about rewriting the NSITF narrative and ensuring excellent service delivery, devoid of distrust and attendant misdemeanours.
The MD said the fund has been repositioned as the best platform for the execution of the social security drive of the Federal Government, especially the social assistance aspect of social security.
This, he said, would be done partly through the provision of social protection through the agriculture sector to reduce unemployment in Nigeria; provision of social assistance through skill acquisition and social assistance through cash handout.
Akabogu noted, “Our focus will strictly be on the fulfilment of the core mandate of the fund, thereby restoring confidence in the processes and dignity of the fund.
“We would aim to create pathways to widen the spread of our enrollee and most importantly, improve on and ensure prompt payments of claims and compensations to give value for money to all the contributors in our Employee Compensation Scheme.
“In addition, it may interest you to know that NSITF in the last two quarters spanning the month of June to November 2021, paid a total sum of N529,962,770.07 as claims and compensation.
“These claims are for medical expenses refunds; loss of productivity to employers, death and disability benefits, beneficiary of deceased employees and retirement benefits on behalf of disabled employees.”
The NSITF boss, who was appointed in June, pledged to increase the productivity of every department of the agency and use quantifiable metrics to measure performance in the weeks and months ahead and ultimately reward excellent and outstanding service.