Contributions to the Nigeria Social Insurance Trust Fund (NSITF) over the last 12 years rose to N257,605,383,185.07 as at the end of June 2023.
Managing Director of NSITF, Maureen Allagoa, disclosed this during a media interaction in Abuja.
She also disclosed that the number of employers registered under the scheme between July 2011 and June 2023, was142, 510.
She however said the private sector organisations accounted for more than 90 per cent of registered employers.
“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.
She said the organisation had been paying promptly all processed and verified claims as at when due.
“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.”
Allagoa 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.
The managing director expressed the management’s commitment to resolving its face-off with workers over welfare matters, noting that the Permanent Secretary, Ministry of Labour and Employment, Kachollom Daju, was already intervening in the matter
“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.”
