Politics
By Anthony Isibor
THE two-day retreat of the National Social Insurance Trust Fund, NSITF, for the Senate and House of Representative Committees on Labour, Employment and Productivity opened on Thursday in Lagos.
The retreat, which has all the stakeholders in attendance, is focusing on building a stronger NSITF towards solidifying and “Building a Stronger NSITF”.
According to the NSITF, the retreat will serve as a platform for sensitisation, open dialogue, strategic planning, and collaborative problem-solving as well as revitalizing and optimizing the essential fund needed for the journey towards the fundamental pillars of social protection.
In a welcome address, Oluwaseun Faleye, Managing Director, NSITF, noted that the gathering is a pivotal retreat organized in collaboration with the two committees of the National Assembly on Labour, Employment and Productivity towards understanding the fundamentals of social insurance programme and forging a collaborative working relationship.
Faleye explained that the NSITF has long been a bedrock in providing securityand support to Nigerian workers.
“However, we are acutely aware that the evolving demands of our time require us to rethink and strengthen this institution.
“The mission of the trust fund is to confront and overcome the challenges that have hindered the NSITF’s full potential and to pave the way for a more transparent, efficient, and resilient system,” he said.
The heart of its mandate of the NSITF, according to Faleye, is the Employees’ Compensation Scheme, ECS, established under the Employees’ Compensation Act of 2010, which aligns with the International Labour Organization’s, ILO, Social Security Convention No. 102, ensures that employees and their beneficiaries receive adequate compensation and rehabilitation in the event of work-related injuries, diseases or death.
“NSITF is further empowered by law, in line with Section 84 (2) of the Pension Reform Act 2014 (as amended) to provide social security services to all eligible citizens, while the ECA 2010, mandates every employer of labour (Public & Private) to contribute 1% of the total emoluments of its staff to the NSITF in order to pay claims and compensations to eligible employees or their beneficiaries in the occurrence of workplace accidents and work related injuries, diseases and death.
Realnews reports that the retreat has in attendance Senator Diket Satso Plang, Chairman Senate Committee on Employment, Labour and productivity, Adegboyega Adefarati, Chairman, House Committee on Employment, Labour and Productivity, as well as members of the house Committees.
A.I
Aug. 15, 2024
