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.