NSITF to Generate N72bn from Workers’ Deductions

Ugo Aliogo

With over 720, 000 federal civil service workers across the nation, the Nigeria Social Insurance Trust Fund (NSITF­) is expected to generate not less than N72 billion from the deductions of one per cent from the payroll of all Ministries, Departments and Agencies, (MDAs).

 Former President Muhammadu Buhari had in a bid to support the NSITF to deliver its social security roles, approved the deductions of the percentage from the source.

Social security, as enshrined in the Act establishing the Fund, is said to be the fundamental right of every citizen through Employees Compensation Scheme, ECS.
 The Bureau of Public Service Reform (BPSR), had put the figure of Nigeria’s bonafide workers at the federal level at 720,000.

Disclosing this during one of its media chats, the BPSR noted that through the Integrated Personnel Payroll Information System, IPPS, over 70,000 ghost workers were eliminated from government’s payroll, with over 10 trillion saved through TSA administration.

READ ALSO:   Gov. Wike’s New Year prayer: I send back that prayer to you that says there’ll be division between G5 govs – Wike

It however noted that the federal government could save over N10 trillion from 70,000 ghost workers.

General Manager, Corporate Affairs of the NSTIF, Mrs. Ijeoma Oji-Okoronkwo, who disclosed this at a forum with the Labour Writers Association, LAWAN) stated :
“We have remained diligent to our responsibility, which is the processing and payment of compensation to injured employees.”

 “In the year 2023 alone, from January to June, we paid 8,959 claims under various contingencies, including medical expenses refund, loss of productivity, death benefits, disability benefits, retirement benefits, and further medical treatment.”

She added that NSITF was planning to amend its law to give a stronger penalty to erring employers to contribute for their employees.

READ ALSO:   Cuppy Shows Gratitude To Fans Who Supported Her Through Trying Times

Oji-Okoronkwo, however maintained that, if an employee dies in the process of working, NSITF was empowered to take care of the family until the last child graduates from a higher institution of learning.

 Such an employee, she said, must have registered and the employer must have paid up to date. “compensations are not restricted to cash only, we have provided prostheses as part of our rehabilitative compensation programme to over 100 employees, which has enabled them to continue to live normally.

While listing its achievements, the Corporate Affairs Manger said, “we are still working out the modality for deduction. NSITF remains steadfast in our commitment to the implementation of the Employees Compensation Scheme ECS for the improved welfare of all Nigerian workers.”

Previous articleOur lives are in danger – Nigerian family in Canada cries out seeks asylum as they face deportation (Video)
Next articleSamsung Galaxy S23 Series Could Get Android 14-Based One UI 6 Beta Next Week: Report

Leave a Reply