Ayodele Olalere
Members of the National Assembly comprising the Senate and the House of Representatives have commended the new Managing Director and Chief Executive Officer of the Nigeria Social Insurance Trust Fund, NSITF, Oluwaseun Faleye on ensuring compensations are paid to thousands of injured Nigerian workers under the agency’s scheme.
Faleye was appointed in July by President Bola Tinubu to head and reposition the agency.
The lawmakers spoke on Thursday at a two-day retreat organised by the agency for the Senate and House Committee on Labour, Employment and Productivity with the theme ‘Building a Stronger NSITF’ held in Lagos.
L-R: Executive Director, Operations, Nigeria Social Insurance Trust Fund (NSITF), Mrs. Mojisolaoluwa Alli Macaulay; Chairman, House Committee on Labour, Employment & Productivity, Hon. Adegboyega Adefarati; Managing Director/Chief Executive Officer, NSITF, Mr. Oluwaseun Mayomi Faleye; Chairman Senate Committee on Employment Labour Productivity, Senator Diket Satso Plang; Executive Director, Administration NSITF, Prof. Gabriel Okenwa and Executive Director, Finance & Investment NSITF during the Nigeria Social Insurance Trust Fund (NSITF), Retreat For Senate & House Committee on Labour, Employment and Productivity. ‘Theme’
Building A Stronger NSITF. Held in Lagos.
In his remarks, Faleye told the lawmakers that the retreat was to establish synergy between the agency and the lawmakers and find solutions to some of the challenges facing the agency.
He noted that the retreat was to ‘serve as a platform for sensitisation, open dialogue, strategic planning, and collaborative problem-solving aimed at revitalizing and optimizing this essential fund.’
Faleye said there is a need for the government to ‘rethink and strengthen the agency.
He said since 2011, the agency has registered over 164,000 employers and 8.4million employees into the scheme as well as paid compensation to over 103,000 beneficiaries, including 111 persons who received artificial limbs (prosthetics), while it had also conducted 25,000 Occupational Safety and Health, OSH, activities.
Faleye assured that under his management, the agency will ‘ensure long-term financial sustainability and effectiveness of the fund by enhancing risk management practices, and improving service delivery to meet the evolving needs of beneficiaries while maintaining transparency and accountability.
He said the agency is making moves to get the federal government’s approval to include the NYSC in the scheme.
The Chairman, Senate Committee on Employment Labour and Productivity, Senator Diket Plang said the retreat was timely as it would help the Executive, Legislators and the MDAs understand how to tackle issues surrounding compensation of injured workers and the deceased.
“The retreat is very timely and I believe NSITF will be better for it in the end. Where the legislators, the executives and the MDAs have understanding of what to do, it will lead to a more successful NSITF,” he said
A member of the Senate Committee on Employment Labour and Productivity, Victor Umeh urged the management of the agency to invest the fund realised from 1% workers contribution in building affordable for workers so as ‘to help reduce housing deficits in the workforce.’
He also charged them to be quick in responding to paying compensation for affected workers which will make the scheme attractive to them.
A member of the House of Representatives, Hon. Ifeanyi Uzokwe lamented the government’s deduction of 40% from the agency’ fund saying it’s affecting the operation of the scheme.
The chairman, Senate Committee on Establishment and Public Service, Senator Oluwaseyi Faseyi noted that condition of work in many Nigerian companies results in severe hazard for workers and demanded that more private companies should be brought into the scheme for their workers to benefit.
Some of the issues raised include inability of the agency to access FG’s contribution regularly, non digitalization of the fund processes, inability of compliance officers to register MDAs.
The lawmakers however promised that the challenges will.be debated on the floor of the House.
