NSITF Disburses Over N75 Million to ECS Beneficiaries in Rivers

By Chinedu Echianu

The Nigeria Social Insurance Trust Fund (NSITF) has presented three cheques totalling N75,840,194.73 to beneficiaries under the Employees’ Compensation Scheme (ECS) in Port Harcourt, the Rivers state capital affirming the commitment of the Oluwaseun Faleye–led management to strengthening social protection for Nigerian workers.

The Managing Director and Chief Executive, Barrister Oluwaseun Mayomi Faleye, made the presentations on Wednesday, describing the payments as a demonstration of the Fund’s resolve to support families affected by workplace accidents, injuries, or death.

***N54.6m to Family of Late Depthwize Employee***

At the first presentation, Faleye handed a cheque of N54,642,194.73 to the dependants of a late employee of Depthwize Nigeria Limited who drowned after a drilling rig collapse on August 15, 2023. The deceased left behind a wife and four children.

While conveying the Fund’s condolences, Faleye said no amount could replace a lost life but hoped the compensation would provide “some measure of comfort and support.” He added that the dependants would also receive monthly death benefits of N2,023,784.09, representing 90% of the deceased’s salary, until the youngest child turns 21 in 2042.

Representing Depthwize, Orela Okulue, Vice President of the company, praised the NSITF for easing the burden on the affected family, describing the process as seamless and supportive.

***N13.1m for Injured Daewoo Staff***

The NSITF team also visited Daewoo Nigeria Limited, where a cheque of 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 the amount covered medical expense refunds (N8.48m) and disability benefits (N4.71m), adding that the beneficiary would continue receiving monthly disability payments until 2033, when he turns 55.

Daewoo’s General Manager, Mr. Akabo Clement Abrakasa, expressed appreciation, saying the Fund had remained a vital partner in supporting employees during crises.

***N8m Compensation for Injured NSITF Staff***

A third cheque of N8,001,095.64 was presented for an NSITF staff member who suffered a workplace accident that resulted in a dislocated right knee.

Faleye sympathised with the staff, commending her resilience and assuring that NSITF’s management was committed to improving compensation timelines, despite delays sometimes caused by late claims and verification procedures.

***NSITF Reaffirms Commitment to Global Standards***

The NSITF boss restated the Fund’s determination to deliver a world-class social protection system, pledging continuous improvement in service delivery.

One of the beneficiaries, an NSITF staff member, expressed gratitude to the management, praising the MD for “making NSITF come alive again.”

The cheque presentations mark another milestone in the Fund’s push to expand coverage and fulfil its mandate of providing financial relief to employees impacted by workplace hazards.