…Oluwaseun Faleye Champions Workers’ Rights Through Social Protection
The Nigeria Social Insurance Trust Fund (NSITF) has bolstered the confidence of Nigerian workers by disbursing N679.57 million in claims under the Employee Compensation Scheme (ECS) in the first half of 2024.
This was disclosed by the Fund’s General Manager of Corporate Affairs, Nwachukwu Godson, who detailed the payments across various compensation categories.
“NSITF has paid the sum of N679,577,908 for different categories of claims which include injuries, compensation for disability, dependent benefits, occupational diseases, provision of prosthesis, retirement benefits, and additional medical treatment,” Godson stated. He also confirmed that claims for the July-December 2024 period are currently being processed and are expected to be disbursed by year-end.
The ECS, established under the Employee Compensation Act (ECA) 2010, provides compensation to employees who sustain injuries, contract illnesses, or lose their lives in the course of their duties.
To expand this safety net, the NSITF is taking steps to increase ECS adoption within Nigeria’s informal sector, particularly among agency banking and mobile money operators.
During a Stakeholders’ Sensitisation Session held in Lagos, NSITF’s General Manager of the Informal Sector, Chika Onyewuchi, emphasized the importance of extending the ECS to operators in these industries. “This program has been set up to create awareness and engage agency banking operators, peers operators , and associations of mobile banking operators, so we can extend the safety net to the informal sector,” she explained.
She further highlighted that the ECS is a contributory scheme requiring employers to remit 1% of total employee remuneration. The initiative not only enhances workplace productivity but also serves as a vital social protection mechanism for Nigeria’s workforce.
The ceremony also featured remarks from Senator Adetokunbo Abiru, Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, who complimented NSITF’s efforts to extend coverage to digital finance workers. Represented by Professor Uche Uwaleke, the senator described the decision as an important step toward expanding social protection in Nigeria’s booming digital economy.
“This initiative emphasises the importance of protecting agency banking operators employed by fintech companies,” Abiruremarked. “It sends a strong message about sharing the duty to safeguard workers’ rights and dignity within the digital finance sector.”
With continuous efforts to extend coverage and streamline operations, the NSITF is likely to cement its role as a crucial player in protecting Nigerian workers across numerous sectors.