Social Insurance: Necessity for All Nigerian Businesses __MD NSITF

Managing Director of  the Nigeria Social Insurance Trust Fund, (NSITF),  Barrister Oluwaseun Faleye, has said that social insurance is a necessity for all Nigerian businesses. 

Faleye said this at a sensitisation program organised by the Fund for stakeholders from the Informal sector of the Nigerian economy on extending social protection to the sector, at  the Golden Royale Hotel, Enugu, Thursday. 

"Social Insurance is not a privilege for big corporations. It is a necessity for every Nigerian business." he said in his opening remarks.

The NSITF boss, who was represented by General Manager, Informal Economy Department, Chika Onyewuchi., highlighted the importance of the Informal sector as the backbone and heartbeat of the Nigerian economy, and went further to underscore the necessity for social protection for the sector. 

He said it was the most vulnerable sector "exposed to risks, economic shocks and without social protection."

"The challenge before us is clear: we must connect the Informal sector to opportunities, protections, and systems that enable them not just to survive--but to thrive,” he posited.

Faleye explained that the Employee Compensation Act 2010 provided  for the Employee Compensation Scheme and mandates all employers of labour in Nigeria to contribute 1% of the workforce payroll to the Fund in lieu of a just and transparent compensation in case of work-related injuries, diseases, disabilities and deaths. 

According to him, the Fund's mandate includes promotion of workplace safety and health through risks assessment, sensitisation and promoting best practices in occupational safety and health.

The  sensitisation program is in continuation of the Barrister Oluwaseun  Faleye-led management of NSITF to expand the safety net to better provide succour and support for the Nigerian workers in time of need.

He said, " We advocate safety in the workplace and as such, provide free workplace safety audits, safety training, awareness programmes, and compliance monitoring."  

Calling on stakeholders in the sector to enroll in the Employee Compensation Scheme, Faleye said, "when we protect workers, we empower businesses. When we empower businesses, we grow the nation."

Apply Knowledge Gained--NSITF MD urges participants at Workshop on occupational safety and health.

Participants at the workshop

Barrister Olúwaṣeun Faleye, the Managing Director of the Nigeria Social Insurance Trust Fund, (NSITF), has   urged participants at the ongoing workshop on Enhanced Occupational Safety and Health, to ensure they apply the knowledge gained from the workshop to promote workers' safety and health in their organizations.

"I urge every participant to engage deeply,

share openly and apply the insights gained with passion and purpose. The true.

measure of this programme's success will not be in what is taught alone but in

how it transforms your workplaces, protects your teams and ultimately saves

lives," Barrister Faleye said in his keynote address.

The ongoing workshop for employers in the South East Geo-Political zone of the country, is at Hotel Sylvia, Independence Layout, Enugu, is organised by NSITF in conjunction with Messrs. Carlton Concept Projects Limited for selected employers enrolled in the Fund's Employees Compensation Scheme. 

The Objective of the training is inculcating best practices in enhanced occupational safety and health and implementation in the workplace with the larger aim of prevention of occupational hazards and deaths.

The workshop is the second in a series holding across the regional demarcations of the Fund.

While welcoming participants at the workshop, the NSITF Managing Director who was represented by the Fund's General Manager and head of department Health Safety and Environment (HSE), Mr Tony Eke, described  the training as pivotal and at the core of the Fund's mandate. 

He said, "It gives me great pleasure to welcome you all to this pivotal training program

on Enhanced Occupational Safety and Health, an initiative that speaks to the.

very heart of our commitment at NSITF: to protect, preserve and promote the

dignity and well-being of every Nigerian worker.

He had earlier promised that the Fund would not leave any stakeholders behind in its quest to upscale the workplace and upskill both employers and employees for better safety and health.

Adopt Data-Driven Solutions to Workplace Safety--Faleye Charges Employers.

A cross section of participants at the training

The Managing Director of Nigeria Social Insurance Trust Fund, (NSITF), Barrister Oluwaseun Faleye, has advocated the adoption of Data -driven solutions for workplace safety and health. 

Faleye canvassed this position at the ongoing training on Enhanced Occupational Safety and Health, at the Kakanfo Inn and Conference Centre, Ibadan.

In his Keynote Address, the Managing Director asserted that evolving workplace environment required proactive measures as against mere compliance, to ensure safety of workers. 

“That is why this program introduces automated Occupational Safety and Health strategies, tools and systems that will not

only elevate productivity but also save lives," he said.

Underscoring the significance of the training, the NSITF MD said, "It marks the bold steps we are taking as an institution and indeed, as a nation towards safer, smarter and more sustainable workplaces. 

“This program underscores our drive to build capacity, foster digital transformation and integrate world-class safety practices into our national workforce culture."

He revealed that  the Fund had already digitized its operations, stating that the training was to  ensure stakeholders were not left behind.

Barrister Faleye, who was represented by the General Manager Health Safety and Environment Department of the Fund, Mr Tony Eke, further  said that the training was "an initiative that speaks to the

very heart of our commitment at NSITF: to protect, preserve and promote the dignity and well-being of every Nigerian worker."

The training, organized in conjunction with Beam Box Projects and Consulting Services Limited runs for four days and is one in a trilogy of trainings sponsored by the Fund. 

Others include Driving Workplace Safety from a Compliant Perspective to Profit-Driven Perspective and Technology and Safeware Skills: Excel Skills for Data Analytics and Visualization handled by Surez Global Resources Nigeria Limited and Sky Quest Concept  Limited respectively. 

The trainings run concurrently in Ibadan and are part of the efforts of the NSITF under to fulfil its mandate of promoting workplace health and safety in Nigeria.

BREAKING: Awujale Takes A Bow

The Awujale if Ijebu-land, Oba Sikiru Kayode Adetona, Ogbagba Agbotewole ll, has joined his ancestors. The revered monarch passed away Sunday, hours after former President Muhammadu Buhari's death was announced.

Ọba Adetona died at the age of 91. He was born on the 10th of May, 1934. 

The Awujale was one of the longest reigning monarchs in contemporary history having reigned for 64 years. He was coronated on the 2nd April, 1960.

Young Prince Adetona was in England studying when he was called back home to ascend the throne.

His reign witnessed three Aláàfin and three Ọọni, about ten Olubadan, Nigerian independence and all the rulers till date.

Kabiesi was a devout Muslim. He was a monarch dearly beloved to his people and respected by all Nigerians.

BREAKING: Buhari is Dead!

Former President Muhammadu Buhari 

Former President Muhammadu Buhari is dead. The former president died in a London clinic Sunday afternoon after a protracted illness.

Buhari ruled Nigeria first as a military Head-of-State from January, 1984 to August, 1985. He was heavily criticized for human rights abuses and draconian laws. His government however, struggled to salvage the poor economy inherited from the civilian administration of President Shehu Shagari. 

Buhari contested election as presidential candidate of the All Nigerian Peoples' Party, ANPP, in 2003 against the spirit of power rotation that ushered in Nigerian Fourth Republic in 1999. He failed against incumbent Olusegun Obasanjo, his former Commander-in-Chief and a fellow retired general. He contested under the same party again in 2007 and lost to Umar Musa Yar'adua, the younger brother of his late comrade-in-arms and fellow coup expert, Shehu Musa Yar'adua.

Buhari formed his own party the Congress for Progressive Change, CPC, on which ticket he contested in 2011. He again lost to incumbent President Goodluck Jonathan. A political merger mainly with the Tinubu-led Action Congress of Nigeria, ACN and ANPP and splinter groups of PDP and APGA saw Buhari winning the election in 2015.

He was rumoured dead severally after protracted treatments abroad for illness shrouded in secrecy. 

A man who donned the toga of personal honesty but headed one of the most corrupt and inept administration ever, he commanded a large followership in the North leading to his election in 2015. But even many of his most fanatical supporters were disenchanted with him going into the election of 2019 with his billboards burnt by irate mobs in his home town of Daura.

No politician has managed to command the large cult figure followership Buhari did. It is not certain any will be able to do so in the near future.

NSITF, NDPC Bond on Promotion of Workers' Welfare and Data Safety.

Barrister Seun Faleye, MD NSITF (l) and Dr. Vincent Olatunji, National Commissioner, NDPC.

Nigeria Social Insurance Trust Fund, (NSITF), and Nigeria Data Protection Commission, (NDPC), have struck a partnership on promotion of workers' welfare, workplace safety and data safety. 

The two agencies agreed to work together for the welfare of Nigerian workers and protection of digital privacy of Nigerians at an inter-agency parley held at the headquarters of NSITF in Abuja.

The two teams at the parley 

The Managing Director of NSITF, Barrister Oluwaseun Faleye, while welcoming the NDPC team led by its National Commissioner, Dr Vincent Olatunji, proposed a mutually beneficial collaboration. 

The Managing Director stressed the need for compliance with the Data Safety Act, 2023 through appointment of data safety officer and capacity building. 

He said the Fund recognized "the need to comply with the law and put in place necessary architecture to protect people's data that they have entrusted into our care."

Barrister Faleye, Dr. Olátúnjí and the Executive Director Administration, NSITF.

Barrister Oluwaseun Faleye however, canvassed that as the Fund complies with the NDPA, the NPDC should also comply with the Employee Compensation Act 2010 by enrolling it's staff in the Employee Compensation Scheme. 

He said, "as we try and comply we also like your organisation to comply with our mandates." 

He stated that the Fund could train the Commission staff on health and safety in the workplace in exchange for capacity building training on data safety for NSITF staff.

Barrister Faleye expressed optimism that a certificate of data safety from the Commission would engender trust from the Fund's stakeholders, and went further to propose a joint advocacy and awareness campaign by both agencies to promote their respective mandates.

In his response the National Commissioner of NDPC, Dr Vincent Olatunji promised to work with the NSITF to achieve the renewed hope agenda of Mr President .

He stressed that both agencies are very crucial to the national development of the country and key to helping Mr President achieve his goal of transforming the country.

NSITF Issues ₦86 million Compensation Cheque to Seplat Energy, family confirms ₦1.108 million monthly support until child turns 21

The Nigeria Social Insurance Trust Fund (NSITF) today presented a lump-sum Employees’ Compensation Scheme (ECS) cheque of ₦86,028,283.30 to Seplat Energy Producing Nigeria Unlimited (formerly Mobil Producing Nigeria Unlimited) at Seplat House, in Lagos.

The payment will be followed by ₦1,107,667.30 every month for the deceased employee’s spouse until the couple’s only child reaches the age of 21, in line with provision 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.

Barr. 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.

Oladotun Isiaka, Managing Director, Seplat Energy, 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.”

Today’s ₦86 million cheque 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.

NSITF’s process overhaul, backed by President Tinubu’s Renewed Hope Agenda, has reduced turnaround times and expanded outreach to compliant employers.

After paying 22,350 claims in 2024 alone, the Fund has visited manufacturing, construction, maritime, and healthcare clusters this year to underscore the tangible value of ECS compliance.

Established under the Employees’ Compensation Act 2010, NSITF provides compensation for work-related death, injury, disease, or disability. The Fund’s nationwide digital reforms have halved average claim processing times since 2023, making payouts faster and more transparent.

NFITF, CAC Forge Data-Sharing Alliance to boost ECS

The Nigeria Social Insurance Trust Fund, (NSITF), has proposed collaboration with the Corporate Affairs Commission (CAC) on data sharing to enhance compliance to the Employees’ Compensation Scheme (ECS). M

Managing Director of NSITF, Barrister Olúwaṣeun Faleye, called for the collaboration at an inter-agency engagement between the Fund and CAC Wednesday, at CAC headquarters in Abuja.

The Managing Director who led a team of management staff of the Fund on a courtesy visit, acknowledged the leading role of CAC as a repository of corporate data in Nigeria.

While applauding the trust the Commission has built overtime, the NSITF MD stated that the Fund could leverage on that established trust to reach employers of labour in Nigeria and enhance compliance to the Employee Compensation Scheme of the Fund.

He added that the collaboration would mean building a resilient workforce, while stimulating better service delivery and ensuring claims and compensation are paid promptly.

“Most importantly is to understand the economic ramification of that social safety net, because if we do, then we begin to appreciate more why we think a collaborative engagement with CAC will be useful.

“My view is that if we build a social safety net for Nigerian workers, we are ultimately creating a resilient economy.  Because what ultimately happens is that workers are able to give their ultimate best, knowing that if there are injuries or accidents as a result of work, they are covered one way or the other. And that's really very important for their psyche and important for productivity” summed.

He enumerated the buy-in to the CAC to include awareness of their staff on the benefits accruing to them being compliant to the Employees´ Compensation Scheme, as well as minimizing workplace hazards through occupational health and safety audits

"One of the benefits is sensitization on Health and Safety in the workplace and OSH audits, which we undertake at no cost to you,"

The NSITF MD said.

He commended CAC for complying with the Employee Compensation Act by enrolling it's staff in the ECS, saying “the mandate of NSITF as provision of social security in terms of adequate and transparent compensation and support for the Nigerian workers in times of workplace injuries, diseases, (including mental health), and deaths.”

He stated that the Fund's mandate extended to ensuring workplace health and safety.

In his response, the Registrar General of CAC, Hussaini Ishaq Magaji, buttressed the importance of the collaborative efforts and the huge impact it would have on the country's economy.

In his words:" You are meeting the largest regulator of the Nigerian economy. The Nigerian economy is operating through entities and all these entities are under the control of the Corporate Affairs Commission.

"Our responsibility is to register these businesses, supervise them, and regulate them. So you are honoured to come here to meet the regulator of the largest part of the Nigerian economy. This collaboration is important as it relates to compliance and the huge benefits to our country," he added

The engagement meeting was a continuation in a series initiated by the NSITF Management to expand the social security towards a more resilient economy.

Life and Times of Late Olubadan Owolabi Olakulehin

Oba Okakulehin bows out 

Ọba Akinloyè Olalere Owolabi Olakulehin died early Monday, according to palace sources. He was the 43rd Olubadan of Ibadan land.

NigeriaPointBlank brings you his journey through life in brief.

Birth and Ancestry.                               The late monarch was born into the family of Pa Ishola Okin Owolabi and Madam Adunola Aweni Opo Owolabi of Okugbaja Village, Ita Baale in Ibadan North East Local Government Area on the 5th of July, 1935.

His paternal ancestral family house the is at Ita Baale Olugbodi while his maternal ancestral homestead is Ile Kusidi in Elekuro, Ibadan.

Education.                                           Young  Akinloyè attended three primary schools namely:

1. St. James Primary School, Oke Akanran
2. Islamic School, Odoiye, and
3. St. Peter Primary School, Akanran

Ọba Olakulehin attended Yaba Technical Institute where he studied Printing and Artworks. He later obtained his Ordinary National Diploma, (OND) and Higher National Diploma, (HND) in Building Technology from the premier polytechnic, Yaba College of Technology.

BREAKING NEWS: Olubadan Joins His Ancestors.

The Olubadan of Ibadan, His Majesty Oba Owolabi Olakuleyin has passed on.

Reports emanating from the royal palace in Ibadan say that the monarch died early Monday 7th if July, 2025.

The late Oba spent a year on the throne having received the staff of office from Governor Seyin Makinde on the 12th July, 2024.

The 43rd Olubadan had been rumoured sick prior ascending the throne. Though the rumours were dispelled, his coronation was for some days. His asencion was also dogged by internal wranglings among the kingmakers.

Ona Olakulehin was born on the 5th of July, 1935. His demise came two days after celebrating his 90th birthday.

Attention has now shifted to who takes over from the late monarch.

NigeriaPointBlank will bring you details.

Continuous and prompt payment of claims is a commitment to improved workers welfare - NSITF ......Pays 31 Million Naira Medical Bills of Nestle Staff.

The Managing Director of the Nigeria Social Insurance Trust Fund (NSITF),  Barrister Oluwaseun Faleye, has insisted that the continuous and prompt payment of claims to beneficiaries of the Employees Compensation Scheme is a demonstration of the Fund's commitment to improved  workers welfare in the country.

He made this declaration just as a staff of fast moving consumer goods giant, Nestle Plc received a refund of N31 million Naira medical bills from the NSITF. 

Barrister Faleye commended the company's commitment to workers' welfare and recounted that the benefiting staff was involved in an auto accident along with other colleagues who had all been compensated by the Fund.

He stated that because of the seriousness of the injury sustained by this particular staff, a review became imperative hence  the latest payment. 

The NSITF MD revealed that the family of one of the workers, who died in the road mishap, had been paid the initial compensation and have started to receive monthly compensation.

He  seized the occasion to draw parallels between other insurance policies and the Employees Compensation Scheme of thhe NSITF, saying the scheme is mandatory by the Employees Compensation Act 2010. 

He said beside compensation for work related deaths, diseases, disabilities and injuries, the fund provides support and rehabilitation

Faleye presented the cheque, at Nestle headquarters in Lagos where he was accompanied by President and General Secretary of NUBIFE, Comrades Anthony Akpaba and Mohammed Sheik, representative of NECA, Mrs. Ajala, and the Executive Director Operation of NSITF, Mrs. Mojisoluwa Ali-Macauley.

In the same vein, the widow of a deceased staff of MEDPLUS was, last week, presented with a cheque of one million , one hundred and ninety two thousand, one hundred and forty five Naira and twenty five kobo (1,192,145:25) by the Managing Director at the company's head office in Lagos. The amount represents the first monthly support after an initial lump sum of 15 million Naira. 

The MD NSITF explained that the monthly installments would continue until the last child of the deceased turned 21 years.

Senate Applauds ICPC for Adhering to Federal Character Principle

The Senate of the Federal Republic of Nigeria has lauded the Independent Corrupt Practices and Other Related Offences Commission (ICPC) for consistently adhering to the principles of Federal Character in the composition of it's workforce.

According to a press release signed by the Director of Public Enlightenment and Education of the ICPC, Mr. Demola Bakare, fsi, the Chairman of the Senate Committee on Federal Character and Inter-Governmental Affairs, Senator Allwell Onyesoh, gave the commendation Wednesday, during the appearance of the ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, and his management team before the Committee to present the Commission’s staff profile and deployment statistics.

The statement said Senator Onyesoh expressed satisfaction with ICPC's compliance and praised the Commission for demonstrating a clear commitment to fairness, equity, and national representation in its appointments and promotions as he urged other Ministries, Departments, and Agencies (MDAs) to emulate the Commission’s exemplary model.

The statement quoted Senator Onyesoh saying, “ICPC has shown that due process is not only possible but also achievable. What you have presented today gives us hope that we still have institutions and individuals committed to building a better Nigeria. You have honoured this institution by being open and transparent about how you conduct appointments and elevate officers to high positions.”

The statement went further that Senator Onyesoh decried the failure of many agencies to appear before the committee, noting that those who appeared have come short of the Federal character principle. He promised to refer defaulting MDAs to ICPC to learn.

According to the release, the presentation of the Commission’s personnel statistics by the ICPC Chairman, Dr. Musa Adamu Aliyu, SAN, revealed that the Commission currently has 1,163 staff members, fairly distributed across the six geopolitical zones as follows: North Central – 19%, North West – 19%, North East – 16%, South South – 16%, South West – 16%, and South East – 14%.

The ICPC Chairman further revealed that the Commission had ten directors overseeing its various departments, with nine substantive directors and one in acting capacity, also equitably distributed across the six zones.

Dr. Aliyu said, “The Commission, as Nigeria’s leading anti-graft agency, is proud to be practicing what it preaches. We are fully committed to upholding all extant rules and regulations, including the Federal Character Balancing Index, and we have been repeatedly commended by the Federal Character Commission for our consistent compliance.” 

The statement concluded that Dr. Aliyu reaffirmed the Commission’s dedication to promoting equity and inclusiveness, noting that these values are central to its mandate of fostering integrity and good governance in Nigeria.

NSITF Pays 31 Million Naira Medical Bills of Nestle Staff.

A staff of fast moving consumer goods giant, Nestle Plc has received a refund of 31 million Naira medical bills form the Nigeria Social Insurance Trust Fund, under the Employee Compensation Scheme of the Fund.

Managing Director of NSITF, Barrister Oluwaseun Faleye presented the cheque Tuesday, at Nestle headquarters in Lagos. Barrister Faleye was in company of the President and General Secretary of NUBIFE, Comrades Anthony Akpaba and Mohammed Sheik, representative of NECA, Mrs. Ajala and the Executive Director Operation of NSITF, Mrs. Mojisoluwa Ali-Macauley.

In the same vein, the widow of a deceased staff of MEDPLUS was presented with a cheque of one million , one hundred and ninety two thousand, one hundred and forty five Naira and twenty five kobo (1,192,145:25) by the Managing Director of NSITF Tuesday at the company's head office in Lagos. The fund represents the first monthly support after an initial lump sum of 13 million Naira. The MD NSITF explained that the monthly installments would continue until the last child of the decreased turned 21 years.

Meanwhile, the NSITF team had earlier visited the head office of Mobil Producing (Seplat Energy) where they presented a cheque of one million, one hundred and seven thousand, six hundred and sixty Naira, and thirty kobo, (1,107,660:30) monthly compensation to the family of a staff of the company who died in the course of duty.

At Nestle, Barrister Faleye commended the company's commitment to workers' welfare. He recounted that the benefiting staff was involved in an auto accident along with other colleagues and they had all been compensated by the Fund. He stated further that because of the seriousness of the injury sustained by the particular staff, a review became imperative hence latest payment. The MD revealed that the family of one of the workers who died in the road mishap had been paid the initial compensation and started to receive monthly compensation.

Barrister Faleye seized the occasion to draw parallels between other insurance policies and the Employee Compensation Scheme of the NSITF saying the scheme is made mandatory by the Employee Compensation Act 2010. He said asides compensation for work related deaths, diseases, disabilities and injuries, the fund provides support and rehabilitation.