From Adanna Nnamani, Abuja
The Nigeria Social Insurance Fund (NSITF) says it has disbursed over N529 million as claims and compensation to deserving employees since July.
NSITF Managing Director/Chief Executive Dr Michael Akabogu disclosed this while briefing journalists in Abuja on Wednesday.
Akabogu broke down the details of the claims to include; medical expenses refunds to 7,390 workers;
2,720 employees were compensated for loss of productivity to employers and 24,670 people got death benefit to Next of Kin (NOK).
Other claims disability benefits to employees paid to 30,422 workers; 3,392 got retirement benefits on behalf of disabled employees and 62 prosthetics provided for those who lost their limbs.
The NSITF boss further stated that the Fund was committed to creating pathways to widen the spread of its enrollee and most importantly, improve on prompt payments of claims and compensations to give value for money to all the contributors in its Employee Compensation Scheme (ECS).
Akabogu also explained the Fund’s efforts in advancing social security in various spheres of the economy to reduce unemployment, which he blamed for the rising spate of insecurity in the country.
He listed some of the undertakings to include; provision of social protection through agriculture; provision of social assistance through skill acquisition; provision of social assistance through skill acquisition.
According to him, these were all ways to reposition the organization and scrub it off the long-standing negative public image brought upon it by past management.
He said: “We will also increase the productivity of every department of the Fund and use quantifiable metrics to measure our performance in the weeks and months ahead and ultimately reward excellent and outstanding service while maintaining utmost commitment to staff welfare.”
“We are here today to put the spotlight on the strategic reforms and service delivery model of the Fund and what we are doing to ensure that the reforms are carried out. We are poised to chart a new course of action that will position the Fund in the positive light, away from the overwhelming series of bad press and setbacks owing to some of the past activities revolving around leadership failures, embezzlements, and misappropriation of funds.
“I know there has been the circulation of accurate and inaccurate news reporting about the activities of the Fund in the previous years.
“In as much as we cannot wish the past away, we are positioned to rewrite the narrative. This is not just a statement, it is an act that we have set in motion. To achieve it, firstly, we redeployed 3,000 staff across our 56 branches and 11 regions, majorly to their areas of competencies in order to strengthen the Fund’s operations.
“As we discuss the new NSITF advancement in all spheres especially, Social Security which is also our core mandate, we intend to reach all vulnerable Nigerians while also reaching all employees through the Employees’ Compensation Scheme. Social Security contingencies are numerous, namely invalidity benefits, old age benefits, sickness, and unemployment benefits amongst others, considering that the present economic and social situation in the country is largely due to unemployment. We hope that the contingencies when fully implemented, could reduce unemployment, vulnerability and achieve a safe Nigeria.
“I can tell you today that we are repositioned to demonstrate the Fund’s readiness as the best platform for the execution of the social security drive of the Federal Government, especially the social assistance aspect of social security. This will be done partly through:
Also speaking, NSITF General Manager, Corporate Affairs Department, Mrs Ijeoma Okoronkwo said the Fund’s management team would continue to be open and accessible to the general public as it intends to run a transparent administration that is devoid of favoritism and segregation.
She said the focus of the new management would strictly be on the fulfillment of the core mandate of the Fund, in order to restore confidence in its processes and dignity