Employee Compensation Scheme: NSITF Compensates Two Beneficiaries With 23 Million Naira

By Chinedu Echianu

The Nigeria Social Insurance Trust Fund, (NSITF) has compensated two beneficiaries to the tune of 23 Million naira under it’s Employee Compensation Scheme.

Management of the Fund, led by its Managing Director, Barrister Olúwaṣeun Faleye, presented the cheques to the two beneficiaries Monday, in Lagos.

One beneficiary, a widow of a deceased employee of MEDPLUS who died in a boat mishap while commuting from home to work, received a death compensation in the sum of N15,494,888 Naira and 25 Kobo. While a cheque for the sum of N7,801,045 million was presented to a beneficiary who is a staff of Alexander Marius Investment as medical expense refund.

Presenting the cheque to the widow, Barrister Faleye commiserated with her and the family of the deceased for the loss of their loved one.

He acknowledged that no amount of money can bring back the dead or fill the void created by death, and assured the bereaved of the continued support from NSITF.

According to him, “the compensation is in fulfilment of our mandate under the Employee Compensation Act, which is to provide open, transparent and adequate compensation for all employees or their dependants when accidents, deaths, or injuries occur in the course of work.”

Barrister Faleye stated further that the mandate of the NSITF is to “ensure that no one who is registered under the Employee Compensation Scheme is left behind when there’s a crisis or injury.”

Responding, the Head of Human Resource of MEDPLUS, Onojobi Tolulope, who represented the company’s Managing Director thanked NSITF for coming to the rescue of the dependants of the deceased colleague and promised to galvanize fellow Human Resource practitioners in other companies to enroll their workers in the Scheme.

Under the Employees’ Compensation Scheme, aside the lump sum given as death compensation, the Fund takes care of the the family of the deceased until the children have graduated from university or reached the age of 21, which ever comes first, as there is a monthly stipend due them for the duration.

The presentations of the cheques were witnessed by a representative of the Nigeria Employers Consultative Association, NECA.

The NSITF boss and his management team will be presenting more cheques to more recipients today (Tuesday) in Lagos.