NSITF: Employers on workers compensation scheme rises by 45%

The number of employers that have enrolled into the Employees Compensation Scheme (ECS) being run by the Nigeria Social Insurance Trust Fund (NSITF) has grown by 45 per cent since 2017 when President Muhammadu Buhari appointed the present management. Managing Director of NSITF Adebayo Somefun, who disclosed this at the International Arts and Crafts Expo […]

The number of employers that have enrolled into the Employees Compensation Scheme (ECS) being run by the Nigeria Social Insurance Trust Fund (NSITF) has grown by 45 per cent since 2017 when President Muhammadu Buhari appointed the present management.

Managing Director of NSITF Adebayo Somefun, who disclosed this at the International Arts and Crafts Expo (INAC) in Abuja, said apart from the contribution growing by 45 per cent from 2017 to date, about 100, 000 employers have keyed into the scheme so far.

He added that the employees’ compensation scheme presently covers over 6.9 million workers from inception to date.

“The fund is happy to report that since this present management team was appointed by President Muhammadu Buhari the numbers of participants have grown by 45 per cent. Not only that, we now have more than 100, 000 employers on the scheme while the number of workers is around seven million.

“The ECS is a ‘during work benefit’ as it makes up for the missing gap in the Pension Reform Act, which covers only post-work benefit,” he said.

The ECS provides rehabilitation to employees with work-related disabilities as provided for in the act and also establishes and maintains a solvent compensation fund managed in the interest of employees and employers.