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.