We have paid more than 300 million naira to beneficiaries – NSITF

The Nigeria Social Insurance Trust Fund said it has paid over N300 million in claims and compensation to beneficiaries in the last four months.

This was announced by the Secretary of the Board and Managing Director, Mrs. Ijeoma Oji-Okoronkwo, who represented the Managing Director, Dr. Michael Akabogu, at the NSITF quarterly press conference on Tuesday in Abuja.

The Board Secretary said that the Fund has paid the total sum of N306,55896.23 million as claims and compensation, successfully processed a total of 23,455 claims for compensation scheme employees in its 56 branches and issued 22,761 employee compensation certificates.

Oji-Okoronkwo, who revealed that most of the claims paid out to beneficiaries were for road accidents, said the newly approved E-NSITF would make more funds available for settling claims, increase the contribution employers to the fund pool and block all funding and lost productivity.

She said: “In the last 4 months we have paid a total of three hundred six million five hundred fifty four thousand eight hundred ninety six naira, twenty three kobo (N306, 554,896.23) claims and indemnities These claims and indemnities paid cover reimbursement of medical expenses, lost productivity, disability benefits to injured employees, death benefits to relatives of deceased employees and retirement benefits for disabled employees.

“It is worth mentioning the particular case of the staff of Hydrodrive Nigeria Limited, who worked as a secretary. On January 4, 2019, while she was waiting at the bus stop to get to work, a reckless bus driver knocked her down, causing her to fracture her right hand, spinal cord, and head injury. She was granted 100% disability and was treated at Lagoon Hospital in Lagos.

“As in the last visit to her on January 14, 2022, she was completely bedridden, paralyzed in all limbs, unable to speak and completely dependent on her husband. The arrears of disability benefits in the amount of N4,994,150.18 were paid after which the beneficiary was placed on monthly disability benefits in the amount of N146,886.17. This is one of the many services the NSITF offers registered employees. »

The Board Secretary added that digitization will also enhance the accountability of each Fund staff member to their respective job functions; prevent the loss of information about the Fund and provide information to guide management decisions.

She said: “The law establishing the NSITF requires us to provide adequate compensation to employees who suffer injury, death, disability and occupational disease in the course of their employment and that is what we have consciously pursued. .

“NSITF leadership has begun the extension of ECS to the informal sector to ensure that no worker (formal, informal and organized private) is excluded from the social safety net.

In order to effectively fulfill our mandate, the Fund has requested permission to embark on the process of automating all of our processes through the E-NSITF project. I am happy to announce that the Federal Executive Council has approved the project.

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