✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters

NSITF pays N1.7bn as claims, compensation in 1 year

The Nigeria Social Insurance Trust Fund (NSITF) says it has spent over N1.7bn as claims and compensations for rehabilitation of injured workers and death benefits…

The Nigeria Social Insurance Trust Fund (NSITF) says it has spent over N1.7bn as claims and compensations for rehabilitation of injured workers and death benefits as well as compensation for loss of man hours to employers.

NSITF Managing Director, Michael Akabogu, said this in Abuja yesterday while flagging off this year’s Customer Service Week.

Memoirs of a generation (I)

Senate approves N3.6trn petrol subsidy, N8.4trn borrowing plan

He said a total of 8,668 death benefits amounting to N712,249,368 were paid to the beneficiaries of deceased employees.

Akabogu, represented by the General Manager, Finance and Accounts, Zwalda Ponkap, said 583 beneficiaries of death benefit, 772 beneficiaries of disability benefit and 235 retirement beneficiaries were currently on the payroll of the Fund.

Akabogu, in a statement yesterday by NSITF spokesperson, Ijeoma Okoronkwo, said the new focus of the Fund was to transit from being a clearance house for claims and compensations to one that minimizes workplace accidents in order to optimize national productivity.