The Nigeria Social Insurance Trust Fund (NSITF) has demonstrated its commitment to worker welfare with a significant disbursement of N75,840,194.73 to three beneficiaries in Port Harcourt, Rivers State. The Managing Director of the Fund, Olúwaṣeun Faleye, personally presented the cheques during visits to the affected organisations and individuals, reinforcing the Fund's core mandate.
Substantial Support for Bereaved Family and Injured Workers
During a visit to Depthwize Nigeria Limited, the NSITF MD presented a cheque of N54,642,194.73 to the dependants of an employee who tragically drowned following the collapse of a drilling rig on 15 August 2023. Faleye, while commiserating with the family, stated that while nothing could replace the life lost, the payment was intended to offer some comfort. He further disclosed that aside from this lump-sum payment, the family will receive monthly death benefits of N2,023,784.09, representing 90% of the deceased's salary, until the last child turns 21 in 2042.
Orela Okulue, Vice President of Depthwize, praised the NSITF for its dedication, noting that the process was seamless and significantly eased the burden on the family.
Compensation for Life-Altering Injuries
At Daewoo Nigeria Limited, another cheque for N13,197,077.34 was presented to an employee who suffered an automobile accident in March 2022, resulting in the amputation of his left leg. Faleye explained that this payment was a combination of a medical expense refund of N8,481,560 and a permanent disability benefit of N4,715,517.34. The beneficiary will continue to receive monthly payments until he turns 55 in 2033.
Daewoo's General Manager, Akabo Clement Abrakasa, described the NSITF as a critical stakeholder, acknowledging the Fund's dedication to supporting injured workers.
The final presentation involved an NSITF staff member who received N8,001,095.64 after a workplace accident led to the dislocation of his right knee. The beneficiary expressed profound gratitude, commending the MD for revitalizing the NSITF.
Commitment to Improved Service Delivery
Addressing potential delays in processing claims, Managing Director Faleye noted that such holdups often stem from late filing, investigations, and verification processes. However, he assured the public that the Fund is actively working on improving its turnaround time as part of broader reforms aimed at achieving international social protection standards. This series of disbursements powerfully underscores the NSITF's renewed focus on its mission to provide a safety net for the Nigerian workforce.
