NSITF raises N180bn in 10 yrs

Managing Director, Nigerian Social Insurance Trust Fund, Michael Akabogu, Thursday said the NSITF raised N180bn from contributors from July 2011 to May 30, 2021.

He told journalists in Abuja that the funds were collected from both the private and the public sectors.

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He said the private sector contributed 80 percent of the total revenue and the public sector, 20 percent.

He said to drive contributions from employers, the NSITF was putting up a platform that would allow it process claims and pay claims to injured workers in 10 to 11 days.

He said the team believed that the contributions could have been better if all employers made their contributions as and when due.

Head of Enforcement, NSITF, Lateef Musa, said “the scheme has registered almost 200,000 employers generally but only 170,000 are actively making their contributions steadfastly”.