…As Seun Faleye Champions Comprehensive Civil Service Compensation Initiative

The Nigeria Social Insurance Trust Fund (NSITF) is poised to integrate every civil servant into the Employee Compensation Scheme (ECS), a move spurred by the Senate and House of Representatives Committees on Labour and Employment’s recent recommendation.

Following a strategic retreat in Lagos, these legislative bodies have advocated for universal inclusion of public sector employees into the ECS framework.

Oluwaseun Faleye, the NSITF’s Chief Executive, articulated a transformative five-pillar strategy designed to revolutionize the Fund’s operations. This strategy emphasizes fortifying oversight mechanisms, enhancing agency functionality, and broadening its reach.

Faleye revealed that the Fund is set to implement a robust monitoring and evaluation system to ensure operational efficiency and efficacy. The second pillar focuses on revamping service delivery nationwide by equipping personnel with advanced competencies and tools necessary for delivering superior and responsive services to beneficiaries.

Additionally, the strategy aims to extend coverage to both public and private sector beneficiaries, with particular emphasis on the informal sector. This involves adapting benefits to meet the evolving demands of beneficiaries while maintaining the Fund’s relevance and effectiveness.

Faleye also highlighted efforts to optimize investment strategies, manage risks, and expand the Fund’s asset base.

Senate Committee Chairman on Labour and Employment, Diket Plang, expressed confidence in the NSITF’s new vision. He and his colleagues urged the NSITF to amplify its advocacy to heighten public understanding of its mandate and the advantages of the ECS, especially concerning work-related injuries, illnesses, deaths, or disabilities.