NSITF: New leadership restoring confidence, spreading breath of fresh air – Akabogu

Managing Director (MD) and Chief Executive Officer (CEO) of Nigeria Social Insurance Trust Fund (NSITF) Dr. Michael Akabogu has revealed that up to N1.5 million is being given to family that lost their breadwinner.

He specifically stated that no fewer 52, 000 individuals have benefited from the scheme.

Dr. Akabogu who spoke during a media interaction session in Abuja on Thursday said the new leadership of NSITF is working to widen the sphere of employees from 220,000 to 250,000.

The NSITIF boss also assured that the new face of NSITF was ready to improve and ensure prompt payment of compensation by creating a conducive atmosphere in the interest of Nigerians.

According to him, “We have developed an electronic platform that ensures pace movement of files.  

“In a case where the MD is not within the office, he will be able to do the needful through the new platform which inturn will help to reduce the number of days in treating files from 14 days to 10 days.

“Our sole mandate is to raise compensation to employees who are involved in workplace accidents and to families of employees that lost their lives through accident. Over 52,000 persons have received different forms of compensation compensation since the last 10 years, from July 2011 to May 30 2021. The N180 million is amount received in contribution in the last 10 years.”

Speaking on the improper placement in the organisation, the NSITF Boss said a probe panel has already identified areas of weakness in the Fund and had since put in place a strategic plan to turn around the fortunes of NSITF as approved by President Muhammadu Buhari.

He said with such move, there would be noticeable change in the narrative within the next three months.

He assured that proper training will be duly given to the staff to improve workforce in the organisation.

NSITF Secretary, Mrs. Ijeoma Okonkwo, emphasised how the scheme had since benefited families who lost either of their parents to death while still working.

Also at the interactive session were the NSITF Executive Director, Mrs. Maureen Allagoa, Director of Operations, Mr. Modu Gana, General Manager Re-Enforcement, Mr Musa Abdulateef.

Mr. Abdulateef particularly spoke on the need for employees in various work places to queue into the organisation’s insurance packages.

The NSITF was established with Decree No. 73 of 1993 to succeed the defunct National Provident Fund (NPF), which had been in operation since 1961.