NSITF Compensates Family of Deceased Seplat Energy Staff

By Chinedu Echianu

The Nigeria Social Insurance Trust Fund (NSITF) has presented a lump-sum Employees’ Compensation Scheme (ECS) cheque of ₦86,028,283.30 (Eighty six million, and twenty eight thousand, two hundred and eighty three naira, thirty Kobo) to Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria Unlimited) at Seplat House,in Lagos.

 

A statement released by the Corporate Affairs Department of NSITF says the payment will be followed by ₦1,107,667.30 (One million, one hundred and seven thousand, six hundred and sixty seven naira, thirty Kobo) every month for the deceased employee’s spouse until the couple’s only child reaches the age of twenty one, in line with Section 29 of the Employees’ Compensation Act.

“Our reforms are cutting processing times and ensuring that bereaved families receive what the law guarantees without delay,” said Barr. Oluwaseun Faleye, Managing Director, NSITF.

“Today’s payment underlines our mandate to provide real, timely protection for Nigerian workers in high-risk sectors such as oil and gas.”.he added.

Managing Director, Seplat Energy, Oladotun Isiaka, welcomed the Fund’s swift action: “It is reassuring to see a government institution live out its statutory mandate. We contribute about ₦1.7 billion to the Fund each year with the expectation that, should the unexpected occur, families will be compensated quickly. NSITF has met that expectation today.”

 

Building on a growing compensation record:

According to the management of NSITF, the current payment which was issued on Thursday is the largest Lagos-region payout in 2025, it surpasses the ₦15.5 million lump-sum delivered to the family of a Medplus employee on 30 June 2025, when NSITF also committed ₦1.192 million in monthly survivor benefits.

Records show that twenty two thousand, three hundred and fifty claims were settled nationwide in 2024, this is as a result of NSITF’s process overhaul, backed by President Tinubu’s Renewed Hope Agenda which reduced turnaround times and expanded outreach to compliant employers.

 

Ongoing nationwide compensation tour:

The Fund has visited manufacturing, construction, maritime, and healthcare clusters this year to underscore the tangible value of compliance to the Employees Compensation Scheme (ECS).

 

Call to action for employers:

The MD of NSITF, Barrister Faleye urged all employers, especially those in hazardous industries, to register and remain compliant with the ECS. “Compliance is not a cost, it is an investment in workforce welfare and corporate reputation,” he noted.

 

About NSITF:

Established under the Employees’ Compensation Act 2010, NSITF provides compensation for work-related death, injury, disease, or disability.

The Fund’s nationwide digital reforms has halved average claim processing times since 2023, making payouts faster and more transparent.