In furtherance of its mandate of impacting positively on the lives of workers and their dependants, the Nigeria Social Insurance Trust Fund, NSITF, has informed that it spent not less than N1,170,409,977.02 on a total of 23, 615 claims and compensation in the last one year.
The management of the fund disclosed that this includes medical expenses refund to 603 employers, loss of productivity to 174 employers, death benefits to 10,610 beneficiaries of deceased employees as well as disability benefits, retirement benefits to 3506 disabled employees among others.
In fact, according to the management of NSITF, the fund has built strong walls against negative trails that retarded its Employee Compensation Mandate, beating its chest to say it has met all targets set in the last one year.
Speaking at the Management Performance Review meeting in Abuja, the Managing Director of the Fund, Dr. Michael Akabogu said the strategic reforms unveiled a year ago, had not only frontloaded transparency and accountability in the operations of the fund but had also broken new grounds in expanding the execution of its mandate.
Elated Akabogu, said “the fund now touches the lives of workers and their dependants like never before”, noting that the essence of the review was to “gauge the activities of Nigeria’s foremost social security institution and track the measured progress reports of regions and branches.”
According to him, targets set at the last Management Review Meeting held from 20th to 21st January, 2022 which included setting up of the five syndicate groups to identify key issues effecting the operations of the regional and branch offices had been met .
He said “Other targets which we have also met since the last review are the automation of the fund’s operational process which is in progress and intended as a bulwark of accountability and transparency, review of staff salaries which we have completed and forwarded to the National Salaries Income and Wages Commission as well as securing operational vehicles for all regions and branch offices.
“Instructively, we have narrowed the time frame between complaints and compensation from time-indefinite we met, to 14 days and now 10 days. This will further reduce when we introduce our duty free call centre in the next few months.
” The NSITF under this administration has been touching the lives of workers and their dependants with a total of 23, 615 claims and compensation, worth N1,170,409,977.02 – One billion , one hundred and seventy million , four hundred and nine thousand , nine hundred and seventy-seven Naira , two kobo paid in the last one year. We have moved very far from what we met on the ground.” The Managing Director explained that “this includes medical expenses refund to 603 employers, loss of productivity to 174 employers, death benefits to 10,610 beneficiaries of deceased employees as well as disability benefits, retirement benefits to 3506 disabled employees among others.
” We have also implemented a merit-based staff promotion exercise and demonstrated that you don’t need a godfather to earn promotion where you deserve it. The promotion examination for graduation into the management cadre has just been held yesterday while other carders will take theirs in September. We can’t do less.
“We have equally paid the Consequential Adjustment of the Minimum Wage with relevant taxes deducted appropriately. It is now left for all of us to double our efforts to sustain the improved welfare , since the fund is non treasury funded.”
The Managing Director frowned at the recent negative reports against the organisation, stressing that “aberrations and financial malfeasance of the past administration which has been taken care of by the law must not be allowed to distract its ongoing strategic reforms.”
He urged the staff to help educate the general public and correct the falsehood.
In her remark, the Executive Director Operations, Maureen Alegoa said the forum is an opportunity for a review of services to the internal and external publics of the fund.
She added it will further enable management staff members relate and develop friendly, productive work environment, insisting the administration was focused on collective success.
Also, Executive Director Operation, Modu Gana assured that the fund is better equipped to tackle all challenges impeding the successful implementation of its mandate, and enthused, ” the daily operational tracking templates , monthly scorecards models and quarterly MPR report” were carefully developed to improve our service.
The meeting among others, took reports from all the 56 branches of the fund and decisions on way forward.