NSITF Received over N257bn as Contributions in 12 Years, Says MD

Onyebuchi Ezigbo in Abuja

The Nigeria Social Insurance Trust Fund (NSITF) has said it received from July 2011 to June 2023, total contribution of N257,605,383,185.07 from organisations while the number of employers registered was 142, 510.

The management said it also resolved its face-off with workers over welfare matters.
The Managing Director of NSITF, Maureen Allagoa, disclosed this while fielding questions from journalists at the weekend, in Abuja
On how the management was carrying out its statutory responsibilities with paucity of funds occasioned by the economic downturn in the country, she said the Fund received from July 2011 to June 2023, total contributions of N257,605,383,185.07 while the number of employers registered was 142, 510.

“Like every Organisation in the challenging economy of the day; particularly since the 2020 Covid lockdown, the Fund has had revenue challenges. Due to the general economic downturn affecting businesses, employers struggle to keep up with payment of contributions,” she said.  
She however said the private sector organisations accounted for more than 90 per cent of registered employers.

She said the organisation had been paying promptly all processed and verified claims as at when due.  
“From inception, July 2011 to June 2023, the total contributions collected for the period is N257,605,383,185.07. Numbers of employers registered is 142, 510.
“For the year 2023 (January to June) the contribution collected is N17,972,408,907.33 while the total number of employers registered for the same period is 7,146.
“On claims and compensation, the Fund has paid benefits to all deserving employees promptly as at when due. We have made 99,678 claims and compensation in payment from inception July 2011 to June 2023.

“This year alone, from January to June the total number of claims paid is 8,959 under the various contingencies of medical expenses refund, loss of productivity, death benefits, disability benefits, retirement benefits, further medical treatment.”
She added: “On prosthesis, we have provided artificial body parts to over 100 disabled workers since inception. This is a form of rehabilitative compensation provided under the scheme which enables the workers who in the course of work who have lost a body part to gradually integrate back into society.
“However, the most critical challenge of the Fund in implementing the scheme is to have the buy-in of states and local governments and some federal government agencies into the scheme.

“Their compliance with the ECA will definitely increase funds for the scheme.
“The recent approval by the Federal Executive Council for direct deduction of one per cent of MDAs’ emolument funds by the Ministry of Finance for the scheme is expected to boost our collections. Once implemented, the contribution will definitely strengthen our fund-base.”

However, the NSITF said the matter had attracted the quick intervention of the Permanent Secretary, Ministry of Labour and Employment, Kachollom Daju.
The MD said the Permanent Secretary was able to ensure amicable resolution of all disagreements and a harmonious working environment.
She said, “We went for a conciliatory meeting and our Permanent Secretary called us for this meeting by and large we resolved all the issues. She even mandated us to go further and talk with our unions, NUBIFE and ASIBIFI on two particular issues which we did.

“However, the issue on the coalescing, it was resolved that we take it to the Office of the Head of Civil Service since it is an establishment issue. So, there is peace and calm in NSITF, we have come to a meeting of the minds and we are waiting for the outcome of this issue on the coalescing of Grade Levels.”
She explained further, “The issue of unremitted pension has been addressed with the Unions. Plans are currently in place to resolve the observed shortfall as mutually agreed at our conciliatory meeting with the Permanent Secretary.
“On the issue of promotion, to eliminate issues of stagnation as a result of delay in promotion, we will maintain the practice that the Fund concludes promotion exercise within the applicable year.”