NSITF Targets 1 Million Employers for Compensation Scheme

NSITF sets an ambitious target to enroll 1 million employers in its compensation scheme, aiming to enhance workplace safety and benefits.

The Employees Compensation Scheme (ECS) of the Nigeria Social Insurance Trust Fund (NSITF) is all set to include one million registered employers every year.

On Thursday in Lagos, the Managing Director of NSITF, Oluwaseun Faleye announced this at the commencement of a two-day retreat for Senate and House Committee on Labour, Employment and Productivity.

According to Faleye, the scheme is aimed at extending Nigeria’s social welfare system.

Our initiative aims to educate Nigerians about the advantages of registering under the ECS, which is a mandatory scheme.

The crucial aspect is its provision of aid in areas where work-related incidents result in harm, fatalities, illnesses or ailments.

We believe that by undertaking educational initiatives to promote the benefits of compliance, people will readily perceive the advantages and be motivated to register in accordance with the law.

He stated that if all registered entities throughout the country, including state and local government workforces, can grasp the significance of this program, achieving anything less than one million will not suffice.

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According to him, NSITF worked together with the National Assembly members to develop legislative proposals that would aid in their mission of broadening Nigeria’s social safety net.

He stated that the National Assembly could aid in guaranteeing a functional compliance level within the area of compliance.

He believes that it will encourage registration and compliance in the future.

As we advance this advocacy, our crucial stakeholders in the National Assembly possess a significant responsibility to assist us.

Furthermore, we seek assistance in acquiring the necessary resources and tools to effectively engage in our desired tasks such as digitalization and advocacy. Advocacy holds significant significance within their sphere of influence.

Next, we aim to examine the legislation and identify where specific modifications are necessary. We will then provide a clear explanation for why these changes should be implemented, enabling them to expedite the process within their system.

Naturally, after having implemented the Act for almost a dozen or so years, there are certain adjustments that need to be made based on our interactions with claimants and participants.

According to Faleye, “We must return to the National Assembly and provide them with an explanation about those matters; they can assist us in facilitating these procedures. Their backing is essential when it comes to implementation.”